Brooks Brothers Signs 10-Year Lease At 195 Broadway In Financial District With Ken Ohashi
195 Broadway
$350
$350/SF
Building Size
9,871 SF
Asset Type
Retail
Closing
Dec 5, 2024
AI
The property asset involved in this transaction is located at 195 Broadway in the Financial District. The asset type is retail, featuring a square footage of 9,871. The asking rent for the space is set at $350 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $350/ft
- Rentable Square Feet: 9,871
- Lease Term: 10 years
- Landlord: David Levinson - L&L Holding Company
- Tenant: Ken Ohashi - Brooks Brothers
- Landlord's Representative: Alan Schmerzler - Cushman & Wakefield
- Tenant's Representatives: Eric Gelber & Jordan Kaplan - CBRE
The lease marks Brooks Brothers' return to the Financial District, with the retailer signing a deal to establish a flagship store. This transaction aligns with the company's expansion strategy following its bankruptcy in 2020 and reflects ongoing year-over-year growth under the leadership of CEO Ken Ohashi.
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
45322.86%
Cash-on-Cash
-12953.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93