WeWearAustralian Leases 5,000 SF Retail Space At 69 Mercer Street Soho From PEP Real Estate
69 Mercer Street
$240
$240/SF
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
$240
$240/SF
Retail
View full map
Players
New York Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
Loading comparables…
Deal FAQ
Visit Edward "Ed" Nelson to view all their deals.
Browse New York retail leases on Traded.
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