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441 Broadway, Manhattan, Ne...

La Ropa Signs Lease For Retail Space At 441 Broadway In SoHo, NYC
LEASEDRetail

La Ropa Signs Lease For Retail Space At 441 Broadway In SoHo, NYC

441 Broadway, Manhattan, New York, NY, USA

Building Size

2,500 SF

Asset Type

Retail

Closing

Sep 3, 2021

AI

A retail property located at 441 Broadway in SoHo has been leased. The property, measuring 2,500 square feet, was leased by La Ropa. The landlord, United American Land, was represented by Albert, Jason, and Jody Laboz. The tenant's representative was Lee Block from Winick Realty, while the landlord's representatives were Carolina Aziz, David Green, and Ike Bibi from Kassin Sabbagh Realty. The asking rent for the property was $175 per square foot.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Date: 09/03/2021
  • Market: SoHo
  • Tenant: La Ropa
  • Landlord: United American Land
  • Tenant's Representative: Lee Block - Winick Realty
  • Landlord's Representatives: Carolina Aziz, David Green, and Ike Bibi - Kassin Sabbagh Realty
  • Asking Rent: $175/ft.
  • SF: 2,500

The deal involved the parties mentioned above, with La Ropa leasing the retail property at 441 Broadway, SoHo. The landlord, United American Land, was represented by Albert, Jason, and Jody Laboz. On the tenant's side, Lee Block from Winick Realty acted as the representative. Carolina Aziz, David Green, and Ike Bibi from Kassin Sabbagh Realty represented the landlord's interests in the transaction.

Players

Ike Bibi

Kassin Sabbagh Realty

Broker

$274.3M

vol

125 deals

Broker

Jason Laboz

United American Land

Landlord

$200.7M

vol

5 deals

Landlord
United American Land
United American LandLandlord

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