Buck Mason Leases 3,250 Square Feet At 486 Broadway In SoHo For $1.5 Million Annually
486 Broadway
Building Size
3,250 SF
Asset Type
Retail
Closing
Nov 19, 2024
AI
The asset involved in the transaction is a retail space located at 486 Broadway in the SoHo market. The property encompasses 3,250 square feet and is leased for an annual amount of $1.5 million. The transaction will see Buck Mason taking over the location previously occupied by Madewell.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $1.5 million annually
- Address: 486 Broadway
- Market: SoHo
- Landlord: Rod Feldman - Tri-Star Equities
- Tenant: Erik Allen Ford - Buck Mason
- Landlord's Representative: Nicholas Judson & Wendy Mcdonald - Judson CRE
- Tenant's Representative: Michael Leifer - Runyon New York
This transaction involved key individuals including Rod Feldman, representing the landlord, and Erik Allen Ford as the tenant. Nicholas Judson and Wendy Mcdonald acted as the landlord's representatives from Judson CRE, while Michael Leifer represented the tenant through Runyon New York.
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