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473 W Broadway, New York, N...

Anita Dongre Leases 6800 SF At 473 W Broadway New York Represented By Pavan Uttam
LEASEDRetail

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

Pavan Uttam

Broker

$35.9M

vol

3 deals

Broker
CR
Centurion RealtyLandlord

Anita Dongre

Tenant

2 deals

Tenant

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