Meridian Retail Leasing Arranges $240/ft Lease For 9,500 SF Retail Space In SoHo
598 Broadway, New York City, New York 10012, United States
Building Size
9,500 SF
Asset Type
Retail
Closing
Dec 30, 2021
About this deal
AI
Located at 598 Broadway in SoHo, this retail property recently completed a lease transaction. The deal was facilitated by Greg Goldberg from Meridian Retail Leasing. The property spans across 9,500 square feet and was listed for an asking rent of $240 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Date: 12/30/2021
- Address: 598 Broadway
- Market: SoHo
- Broker: Greg Goldberg - Meridian Retail Leasing
- Asking Rent: $240/ft.
- Square Footage: 9,500
In this lease deal, the property at 598 Broadway found a tenant at the negotiated rent of $240 per square foot. Greg Goldberg from Meridian Retail Leasing represented the parties involved in the transaction. This agreement underscores the appeal of the property and the demand for retail spaces in the vibrant neighborhood of SoHo.
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