Hello82 Signs Multi-Year Lease For 6915 Sq Ft Retail Space At 427 Broadway In SoHo
427 Broadway
Building Size
6,915 SF
Asset Type
Retail
Closing
May 16, 2025
AI
The asset involved in this transaction is a retail space located at 427 Broadway in the SoHo market of Manhattan. This space encompasses a total of 6,915 square feet, tailored for the tenant's specific operational needs.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 427 Broadway, SoHo, Manhattan
- Square Footage: 6,915
- Landlord: Michael Chetrit - Chetrit Organization
- Tenant: Jae Yoon Choi - Hello82
- Landlord's Representative: Alexander Kesseler, Howard Kesseler, Jason Pruger & Jason Stein - Newmark
- Tenant's Representative: David Berger - Bernstein Real Estate
This lease agreement marks Hello82's first location in New York City, serving as their East Coast flagship for various activities including events, album drops, and fan experiences.
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