UpFit Leases Retail Space At 810 Broadway In Union Square
810 Broadway, New York City, New York 10003, United States
Building Size
5,000 SF
Asset Type
Retail
Closing
Jul 7, 2022
AI
A retail space located at 810 Broadway in Union Square has been leased to UpFit. The property, spanning 5,000 square feet, was leased for an asking rent of $100 per square foot. The lease transaction was facilitated by Chris Okada and Ken Lerner from Okada & Company, serving as tenant representatives. The landlord of 810 Broadway is Sam Eliahu.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Lease
- Date: 07/08/2022
- Address: 810 Broadway
- Market: Union Square
- Tenant: UpFit
- Tenant's Rep: Chris Okada & Ken Lerner - Okada & Company
- Asking Rent: $100/ft.
- SF: 5,000
The lease marks an important decision for UpFit as they secure their retail presence on Broadway. Chris Okada and Ken Lerner, representing UpFit, played a crucial role in negotiating the terms of the lease. With the transaction completed, UpFit is poised to make its mark in Union Square's bustling retail market.
Note: @OkadaCo encourages followers to check out @ChrisOkada on Instagram. In light of the current economic climate, which is heading towards a recession, every deal counts in New York City.
Players
New York Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
Loading comparables…
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