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413 West Broadway, New York...

Chase Contemporary Leases Retail Space In SoHo's Centurion Realty Building
LEASEDRetail

Chase Contemporary Leases Retail Space In SoHo's Centurion Realty Building

413 West Broadway, New York City, New York 10012, United States

Building Size

10,000 SF

Asset Type

Retail

Closing

Nov 1, 2021

AI

Centurion Realty has leased retail space located at 413-415 W. Broadway in the SoHo market to Chase Contemporary. The lease was facilitated by brokers Ali Reza and Troy Gordon. The property spans approximately 10,000 square feet, with an asking rent of $250 per square foot. The lease terms are set for a duration of 5 years.

Summary of transaction details

  • Property Type: Retail
  • Transaction Date: 11/01/2021
  • Address: 413-415 W. Broadway
  • Market: SoHo
  • Landlord: Centurion Realty
  • Tenant: Chase Contemporary
  • Brokers: Ali Reza & Troy Gordon
  • Asking Rent: $250/ft.
  • SF: 10,000
  • Lease Terms: 5 Years

The lease agreement between Centurion Realty and Chase Contemporary was facilitated by brokers Ali Reza and Troy Gordon. This transaction represents a significant opportunity for Chase Contemporary to establish a presence in the vibrant SoHo market, while Centurion Realty further diversifies its tenant portfolio. Both parties can expect a mutually beneficial arrangement with a lease duration of 5 years.

Players

Ali Reza

Broker

1 deal

Broker
R New York
R New YorkBrokerage

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93