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234 West 42nd Street

House Of Spells Signs 10-Year Lease For 20,000 Square Feet At 234 West 42nd Street
LEASEDRetail

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:

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

Peter Weisman

Weisman NYC

Broker

$36.9M

vol

12 deals

Broker
HS
House of SpellsBuyer
Brian Kingston

Brian Kingston

Brookfield Properties

Landlord

$7.7B

vol

44 deals

Landlord

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