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810 Broadway, New York City...

UpFit Leases Retail Space At 810 Broadway In Union Square
LEASEDRetail

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

Christopher Okada

Okada & Company

Broker

$352.8M

vol

84 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93