Windsor Signs Lease For Retail Space At 499 Broadway In SoHo, NYC
499 Broadway, New York City, New York 10012, United States
Building Size
8,000 SF
Asset Type
Retail
Closing
Jul 31, 2022
AI
Windsor, a retail tenant, has signed a lease for a property located at 499 Broadway in the SoHo market. The property, with a total area of 8,000 square feet, is owned by WB Property Group. The lease was facilitated by Joanne Podell and Michael Shalom from Cushman & Wakefield, who represented Windsor in the transaction. The asking rent for the space was $350 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Lease
- Date: 08/01/2022
- Address: 499 Broadway
- Market: SoHo
- Landlord: WB Property Group
- Tenant: Windsor
- Tenant's Rep: Joanne Podell & Michael Shalom - Cushman & Wakefield
- Asking Rent: $350/ft.
- SF: 8,000
Joanne Podell and Michael Shalom from Cushman & Wakefield played a crucial role as representatives of Windsor during the lease negotiation process. They successfully secured the lease agreement for the retail space at 499 Broadway in SoHo, meeting the landlord's asking rent of $350 per square foot.
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