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433 West Broadway, New York...

Cabin Editing Company Signs 10-Year Lease At 446 Broadway In SoHo With Landlord KPG Funds
LEASEDOffice

Cabin Editing Company Signs 10-Year Lease At 446 Broadway In SoHo With Landlord KPG Funds

433 West Broadway, New York, NY 10012

Building Size

7,463 SF

Asset Type

Office

Closing

Jul 1, 2020

AI

The top floor of KPG Funds' L'Atelier office building in SoHo has been leased to Cabin Editing Company, a creative editing and visual effects boutique. The lease term is 10 years, with an asking rent of approximately $120 per square foot. The office space spans an area of 7,463 square feet. Cabin Editing's impressive clientele includes Beyoncé, Drake, Rihanna, A$AP Rocky, Kendrick Lamar, Vince Staples, Google, Apple, Samsung, BMW, Volvo, Hyundai, Coca-Cola, Pepsi, Nike, Adidas, and Louis Vuitton.

Summary of transation details

  • Property Type: Office
  • Transaction Amount: Not specified
  • Address: 446 Broadway AKA L'Atelier
  • Market: SoHo

Cabin Editing Company, known for its reputable client base, has signed a 10-year lease for the top floor of KPG Funds' L'Atelier office building. This deal was facilitated by Ken Fishel from LegacyNY Commercial Real Estate, who represented the tenant. On the landlord's side, David Malawer from Newmark served as the representative. The leasing of this prime office space in SoHo opens up new opportunities for Cabin Editing to expand their business and continue servicing their high-profile clients.

Players

Ken Fishel

Legacy Real Estate

Broker

4 deals

Broker
Greg Kraut

Greg Kraut

KPG Funds

Landlord

$96.8M

vol

7 deals

Landlord

New York Office Market Snapshot

Boundary boundary · Office · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93