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650 Broadway

The Practice Room Leases Retail Space At 650 Broadway Noho For $45/ft
LEASEDRetail

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

John Roesch

Meridian Capital Group

Broker

97 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

352511.11%

Cash-on-Cash

-100748.76%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93