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490 Broadway

Miniso Leases Retail Space At 490 Broadway In SoHo
LEASEDRetail

Miniso Leases Retail Space At 490 Broadway In SoHo

490 Broadway

$675

$675/SF

Building Size

4,770 SF

Asset Type

Retail

Closing

Aug 15, 2022

AI

Miniso has secured a lease for a retail space at 490 Broadway in SoHo. The property, owned by Ponte Gadea - Amancio Ortega, was brokered by Michael Shalom, Joanne Podell, and Christian Stanton of Cushman & Wakefield. The lease was signed on 08/15/2022.

Summary of transaction details:

  • Property Type: Retail
  • Asking Rent: $675/ft. ~ SF: 4,770
  • Address: 490 Broadway, SoHo
  • Landlord: Ponte Gadea - Amancio Ortega
  • Tenant: Miniso
  • Brokers: Michael Shalom, Joanne Podell, and Christian Stanton - Cushman & Wakefield

Miniso's lease agreement was facilitated by Michael Shalom, Joanne Podell, and Christian Stanton from Cushman & Wakefield. This deal marks a significant milestone for Miniso's expansion into the vibrant retail market of SoHo.

Players

Christian Stanton

Cushman & Wakefield

Broker

7 deals

Broker
Amancio Ortega

Amancio Ortega

Ponte Gadea

Landlord

$1.9B

vol

11 deals

Landlord
M
MinisoTenant

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

23500.74%

Cash-on-Cash

-6716.58%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93