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473 West Broadway, New York...

Forma Pilates Signs Lease For Retail Space In Soho Building
LEASEDRetail

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

Brandon Singer

Retail By Mona

Broker

$84.3M

vol

60 deals

Broker
CR
Centurion RealtyLandlord
FP
Forma PilatesTenant

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