Authentic Brands Group Expands Retail Space At 1411 Broadway In Midtown Manhattan For $75/SF
1411 Broadway
$75
$75/SF
Building Size
100,000 SF
Asset Type
Retail
Closing
Dec 4, 2024
About this deal
AI
The asset involved in this transaction is a retail space located at 1411 Broadway in Midtown Manhattan. The lease agreement involves an asking rent of $75 per square foot for a total space of 100,000 square feet.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $75/ft
- Address: 1411 Broadway
- Market: Midtown Manhattan
- Landlord: Nathalie Palladitcheff - Ivanhoe Cambridge & Connor Kidd - Swig Co
- Tenant: Jamie Salter - Authentic Brands Group
- Landlord's Representative: Emily Jones Chabrier, Neil King, Paul Amrich & Shay Kenney - CBRE
- Tenant's Representative: Michael Beyda - Benchmark Properties
- Total Space: 100,000 square feet
- Expansion Size: 25,000 square feet
The deal features Jamie Salter, representing Authentic Brands Group as the tenant, while the landlords, a venture of Ivanhoe Cambridge and Swig Co., are represented by a team from CBRE. The transaction signifies a strategic expansion for Authentic Brands Group, highlighting its continued growth within the retail sector.
On the Map
$75
$75/SF
Retail
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Players
New York Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
211506.67%
Cash-on-Cash
-60449.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93