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486 Broadway

Buck Mason Leases 3,250 Square Feet At 486 Broadway In SoHo For $1.5 Million Annually
LEASEDRetail

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

Nicholas Judson

Judson CRE

Broker

$43.9M

vol

13 deals

Broker

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