Miniso Leases Retail Space At 490 Broadway In SoHo
490 Broadway
Building Size
4,770 SF
Asset Type
Retail
Closing
Aug 15, 2022
About this deal
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.
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Retail
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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