Forma Pilates Signs Lease For Retail Space In Soho Building
473 West Broadway, New York City, New York 10012, United States
Building Size
2,500 SF
Asset Type
Retail
Closing
Feb 17, 2022
AI
A retail property located at 473 West Broadway in Soho has been leased. The property, spanning 2,500 square feet, was leased by Centurion Realty to Forma Pilates. The tenant's representatives in the deal were Brandon L. Singer and Max Kreinces from Retail by MONA, while the landlord was represented by Ross Eisenberg from RDE Advisors. The lease was signed on February 18, 2022.
Summary of transaction details
- Property Type: Retail
- Transaction Date: February 18, 2022
- Address: 473 West Broadway, Soho
- Landlord: Centurion Realty
- Tenant: Forma Pilates
- Tenant's Representative: Brandon L. Singer & Max Kreinces - Retail by MONA
- Landlord's Representative: Ross Eisenberg - RDE Advisors
Liana Levi, the founder of Forma Pilates, led the negotiations for the lease. It is worth noting that Forma Pilates already has existing locations in Los Angeles. For more information about Forma Pilates, visit their website: https://www.formapilatesla.com/.
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