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499 Broadway, New York City...

Windsor Signs Lease For Retail Space At 499 Broadway In SoHo, NYC
LEASEDRetail

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

Michael Shalom

Cushman & Wakefield

Broker

7 deals

Broker
WG
WB Property GroupLandlord

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