House Of Spells Signs 10-Year Lease For 20,000 Square Feet At 234 West 42nd Street
234 West 42nd Street & 234 West 42nd Street
Building Size
40,000 SF
Asset Type
Retail
Closing
May 19, 2026
AI
The property asset involved in this transaction is located at 234 West 42nd Street in the Times Square market. The retail asset comprises a total area of 20,000 square feet and is notable for being the first U.S. store of House of Spells, which specializes in merchandise themed around Harry Potter, Lord of the Rings, and Game of Thrones. The store has signed a 10-year lease in the space previously occupied by IT’Sugar and Modell’s, within a building owned by Brookfield Properties in partnership with Madison International Realty.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 234 West 42nd Street
- Market: Times Square
- Landlord: Brian Kingston - Brookfield Properties
- Tenant: House of Spells
- Landlord's Representative: Alan Schmerzler, Diana Boutross & Ian Lerner - Cushman & Wakefield
- Tenant's Representative: Peter Weisman - Weisman NYC
The deal features key representatives including Brian Kingston from Brookfield Properties as the Landlord, while Alan Schmerzler, Diana Boutross, and Ian Lerner from Cushman & Wakefield serve as the representatives for the landlord. Peter Weisman from Weisman NYC represents the tenant, House of Spells. This transaction marks a significant addition to the Times Square retail landscape.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93