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
About this deal
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
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