WeWearAustralian Leases 5,000 SF Retail Space At 69 Mercer Street Soho From PEP Real Estate
69 Mercer Street
Building Size
5,000 SF
Asset Type
Retail
Closing
Mar 15, 2026
About this deal
AI
The asset involved in this transaction is a retail space located at 69 Mercer Street, nestled in the SoHo market. The lease involves a modified gross lease type, with an asking rent of $240 per square foot for a total area of 5,000 square feet.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $240/ft
- Square Footage: 5,000
- Address: 69 Mercer Street
- Market: Soho
- Landlord: PEP Real Estate
- Tenant: WeWearAustralian
- Brokers: Edward Nelson & Ian Lerner - Cushman & Wakefield
- Lease Type: Modified Gross Lease
Edward Nelson and Ian Lerner from Cushman & Wakefield represent the landlord, PEP Real Estate, in this significant lease. A notable aspect of this deal is that WeWearAustralian has signed a long-term lease for its first-ever global flagship store, signaling the brand’s formal entry into brick-and-mortar retail.
On the Map
Retail
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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
66095.83%
Cash-on-Cash
-18890.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93