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536 Broadway, New York City...

A|X Armani Exchange Signs Sublease For SoHo Retail Space At 536 Broadway In Deal Facilitated By JLL
LEASEDRetail

A|X Armani Exchange Signs Sublease For SoHo Retail Space At 536 Broadway In Deal Facilitated By JLL

536 Broadway, New York City, New York 10012, United States

Building Size

10,000 SF

Asset Type

Retail

Closing

Oct 24, 2022

AI

The retail property located at 536 Broadway in SoHo has recently been leased. The landlord of the property is Michael Shvo, and the tenant is A|X Armani Exchange. The lease terms indicate that it is a sublease that runs through March 2029. The asking rent for the property was $300 per square foot, and it offers a total of 10,000 square feet of space.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: N/A
  • Address: 536 Broadway
  • Market: SoHo
  • Landlord: Michael Shvo
  • Tenant: A|X Armani Exchange
  • Broker: Bob Gibson - JLL
  • Asking Rent: $300/ft.
  • Square Footage: 10,000
  • Lease Terms: Sublease through March 2029

The deal was facilitated by Bob Gibson from JLL, who represented the tenant, A|X Armani Exchange, in the lease agreement.

Players

Bob Gibson

JLL

Broker

5 deals

Broker
Michael Shvo

Michael Shvo

SHVO

Landlord

$3.1B

vol

17 deals

Landlord
XE
X Armani ExchangeTenant

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