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
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