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
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