Aritzia Renews Lease At 560 Broadway Manhattan With GFP Real Estate As Landlord
560 Broadway
Building Size
30,000 SF
Asset Type
Retail
Closing
Jan 7, 2025
AI
The property involved in this transaction is located at 560 Broadway in Manhattan. It is designated as a retail asset with a total square footage of 30,000. The property continues to serve as a retail location for the tenant, Aritzia, who has secured its presence in this market since originally leasing the location in 2020.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not Specified
- Address: 560 Broadway
- Market: Manhattan
- Landlord: Eric Gural and Brian Steinwurtzel - GFP Real Estate
- Tenant: Jennifer Wong - Aritzia
- Landlord's Representative: Donna Vogel, Jeffrey Gural & Neith Stone - GFP Real Estate
- Tenant's Representative: Ariel Schuster & Jason Wecker - Newmark
This deal highlights the involvement of key representatives from both sides. Donna Vogel, Jeffrey Gural, and Neith Stone represented the landlord, while Ariel Schuster and Jason Wecker represented the tenant in the lease renewal agreement. The renewal of Aritzia's lease illustrates the brand's commitment to maintaining its retail operations within this prominent location.
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