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560 Broadway

Aritzia Renews Lease At 560 Broadway Manhattan With GFP Real Estate As Landlord
LEASEDRetail

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:

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

Ariel Schuster

Newmark

Broker

$461.2M

vol

27 deals

Broker

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