The Practice Room Leases Retail Space At 650 Broadway Noho For $45/ft
650 Broadway
$45
$45/SF
Building Size
4,000 SF
Asset Type
Retail
Closing
Mar 8, 2024
AI
The retail property located at 650 Broadway (4th Floor) in Noho, Manhattan, was leased for The Practice Room. The landlord, Navnit Kumar & Kavnit Kuman of 650 Realty INC, secured a retail lease with a total square footage of 4,000. The asking rent for the lease was $45 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 650 Broadway (4th Floor)
- Market: Noho, Manhattan
- Landlord: Navnit Kumar & Kavnit Kuman - 650 Realty INC
- Tenant: The Practice Room
- Landlord's Rep: John Roesch - Meridian Capital Group
- Tenant's Rep: Ali Reslan - RDE Advisors
- Lease Type: Retail Lease
Key individuals in this lease transaction include John Roesch from Meridian Capital Group, who represented the landlord, and Ali Reslan from RDE Advisors, who served as the tenant's representative. The deal was successfully negotiated between these parties for the lease of the retail space at 650 Broadway.
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
352511.11%
Cash-on-Cash
-100748.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93