SK Hospitality Group Leases 15,000 Square Feet Retail Space At 25 Broad Street In Financial District
25 Broad Street
Building Size
15,000 SF
Asset Type
Retail
Closing
May 31, 2025
About this deal
AI
The property involved in this lease transaction is a retail space located at 25 Broad Street in the Financial District. The asset features 15,000 square feet of space over two floors and is leased at a monthly rent of $1,000,000, which converts to an asking rent of $66.67 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $1,000,000 monthly rent
- Address: 25 Broad Street
- Market: Financial District
- Landlord: Regal Ventures
- Tenant: SK Hospitality Group
- Landlord's Representative: Marc Johnson, Kayla Terzi & Danny Volk - Vantage Real Estate Advisors
- Lease Type: Retail Lease
This lease transaction secured a top-tier food and beverage operator for a prominent corner in the Financial District, specifically the iconic former Bobby Van’s Steakhouse space within the historic The Broad Exchange Building.
On the Map
Retail
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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
15.86%
Cash-on-Cash
-4.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93