Flabelus Leases Retail Space At 505 Broome Street From Landlord Jeff Gerson For 10 Years
505 Broome Street
$350
$350/SF
Building Size
846 SF
Asset Type
Retail
Closing
Nov 15, 2024
About this deal
AI
The retail property located at 505 Broome Street in SoHo has been leased with an asking rent of $350 per square foot, covering a total of 846 square feet. The property involves a gross lease over a term of 10 years.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $350/ft
- Lease Term: 10 Years
- Landlord: Jeff Gerson
- Tenant: Flabelus
- Landlord's Representative: Andrew Stern - Newmark
- Tenant's Representative: Sara Armet - Lantern Real Estate
This lease transaction showcases the collaboration between the involved parties, with Andrew Stern representing the landlord and Sara Armet representing the tenant, facilitating the agreement for this prime retail space.
On the Map
$350
$350/SF
Retail
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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
45322.86%
Cash-on-Cash
-12953.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93