Knotel Leases 49000 Square Feet At 536 Broadway New York From Thor Equities
LEASED
$75
New York
See Similar DealsRetail49,000 SF
Leased 07/24/2018
LEASED
Knotel Leases 49000 Square Feet At 536 Broadway New York From Thor Equities
536 Broadway, New York, NY, 10012
See Similar DealsRetail49,000 SF
Leased 07/24/2018
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$75
Total Square Footage:49,000 SF
Transaction Type:Lease
The property asset involved in this transaction is located at 536 Broadway, New York, NY, 10012, in the New York market. Knotel signed a lease for 49,000 square feet with a rent of $75 per square foot. The lease term runs for 10 years, and this location represents Knotel's largest footprint in Soho to date.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: $3,675,000
- Tenant: Knotel
- Tenant's Representative: Aziz Kabbaj
- Landlord: Thor Equities
- Square Feet: 49,000
- Asking Rent/SF: $75
- Address: 536 Broadway, New York, NY, 10012
The deal involved Knotel, represented by Aziz Kabbaj of Sitt Ventures and Sherlock, while Thor Equities negotiated the transaction on behalf of the property ownership. Notably, Knotel has been actively expanding its office presence, having previously leased additional space just steps away at 584 Broadway earlier in the year.
Players
BROKERAGE
LANDLORD
TENANT
Details
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Deal Type
NNN (Triple Net)
Effective Rent (Annual)
$4,212,975.65
Total Lease Value
$42,129,756.47
Net Landlord Cash Flow$4,212,975.65
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