Anita Dongre Leases 6800 SF At 473 W Broadway New York Represented By Pavan Uttam
473 W Broadway, New York, NY, 10012
$71
$71/SF
Building Size
6,800 SF
Asset Type
Retail
Closing
Nov 7, 2017
AI
The property located at 473 W Broadway, New York, NY, is a 6,800-square-foot unit spread across three floors in the Soho building. The annual rent for the space is $480,000, which equates to approximately $71 per square foot. This location will serve as a combined store space for two brands under designer Anita Dongre.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: $480,000
- Address: 473 W Broadway, New York, NY, 10012
- Market: New York
- Tenant: Anita Dongre
- Landlord: Centurion Realty
- Tenant's Representative: Pavan Uttam of UP Real Estate Advisors
- Square Feet: 6,800
- Rent/SF: $71
Designer Anita Dongre is set to combine her luxury bridal and formal wear line with the sustainable prêt-à-porter line, Grassroot, at this new location. Grassroot had previously operated under a temporary lease at The Nearby 484 Broome Street before the decision to move to this newly leased space for a more permanent presence in the New York market.
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
223422.54%
Cash-on-Cash
-63854.85%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93