Ethem Gungor Leases Retail Space To Milla Trade NA, Inc. At 597 Broadway In Soho
597 Broadway
$68
$68/SF
Building Size
4,500 SF
Asset Type
Retail
Closing
Apr 1, 2025
AI
The property involved in this transaction is a retail asset located at 597 Broadway, Soho, Manhattan. The asking rent for this space is set at $68 per square foot for a total of 4,500 square feet. The lease structure is a modified gross lease and has a term of 5 years.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $68/ft
- Lease Term: 5 Years
- Lease Type: Modified Gross Lease
- Address: 597 Broadway
- Market: Soho, Manhattan
- Landlord: Ethem Gungor
- Tenant: Milla Trade NA, Inc. - Zoryana Senyshyn
- Landlord's Rep: Bryan Ware - The Corcoran Group
- Tenant's Rep: Halyna Chyrva - Equity Essentials LLC
This transaction was facilitated with representation from Bryan Ware of The Corcoran Group acting on behalf of the landlord, Ethem Gungor, and Halyna Chyrva of Equity Essentials LLC representing the tenant, Milla Trade NA, Inc. - Zoryana Senyshyn.
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
233279.41%
Cash-on-Cash
-66671.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93