400 Broome Street
This is a straightforward retail lease transaction in Nolita, a submarket known for strong foot traffic among upscale consumers and a resilient boutique retail ecosystem. The asking rent of $150/SF is at the upper end of current Nolita retail comps for small-format spaces, reflecting the desirability of the corridor, though tenant creditworthiness for a media brand like Iconic Magazine warrants scrutiny given the structural challenges facing print and editorial businesses. The landlord, Steven Forkosh, is an experienced NYC retail operator with a credible track record, reducing landlord-side risk considerably. Brokerage representation by KSR (Kassin Sabbagh Realty), a reputable NYC retail specialist, adds confidence in deal execution and market pricing. From a lending perspective, this deal presents limited collateral relevance as a lease transaction, but speaks to the health of the underlying asset and its ability to command premium rents.
Deal Stats
Parties
Seller / Landlord
Steven Forkosh is a well-known NYC retail landlord with a significant portfolio concentrated in Lower Manhattan and Nolita, with a long track record of leasing street-level retail to boutique and lifestyle tenants. His properties in the SoHo-Nolita corridor are considered desirable and he has a reputation for stable, long-term tenancy relationships.
Buyer / Tenant
Iconic Magazine is a media brand taking a retail/showroom presence in Nolita, consistent with the neighborhood's appeal to lifestyle, fashion, and editorial brands seeking street-level visibility. Their retail footprint at this scale suggests a boutique flagship or pop-up-to-permanent concept rather than a high-volume sales operation.
Score Analysis
How to improve
The following actions could meaningfully improve this deal's Homage score. Each suggestion is based on the deal's profile, asset type, and current rating — addressing them before approaching a lender can increase approval likelihood and lower borrowing costs.
Resolve outstanding violations or liens
Active violations significantly depress the score; clearing them has high impact.
Provide sponsor financial statements
Documented liquidity and net worth reduce lender risk perception.
Submit a detailed business plan
A clear repositioning or hold strategy demonstrates deal viability.
Identify institutional co-lenders or equity partners
Reputable co-investors signal deal quality to underwriters.
Raw Deal Textclick to expand
traded + Submit RE Growing Financial Partnerships For Over 30 Years. Get Started Home Deals New York Retail Lease 400 Broome Street Share LEASED Steven Forkosh Leases 2,000 SF Retail Space To Iconic Magazine At 400 Broome Street $150 $150/SF BUILDING SIZE 2,000 SF ASSET TYPE CLOSING Jun 24, 2026 Overview Players Market Deal Summary Caption AI The retail property located at 400 Broome Street in Nolita features a lease type categorized as a Retail Lease. This asset encompasses 2,000 square feet and has an asking rent of $150 per square foot. Summary of transaction details: Property Type: Retail Transaction Amount: $150/ft Square Footage: 2,000 Address: 400 Broome Street Market: Nolita Landlord: Steven Forkosh Tenant: Iconic Magazine Brokers: Nathan Shabot, Marc Sitt & Dorel Melloul - KSR The transaction involved key representatives including Nathan Shabot, Marc Sitt, and Dorel Melloul, who acted on behalf of the landlord and tenant, facilitating the lease agreement for Iconic Magazine. PLAYERS All Brokers Marc Sitt Kassin Sabbagh Realty BROKER $272.9M VOL 64 deals Contact Dorel Melloul $4.8M 32 deals NS Nathan Shabot New York Retail Market Snapshot Boundary boundary · Retail · Lease transactions Comps Listings Map Investors Top Brokers Lenders Loading comparables… Live NEARBY MARKETS NEIGHBORHOODS Williamsburg Commercial District Greenpoint Williamsburg Fort Greene Clinton Hill Red Hook Downtown Brooklyn Submarket Brooklyn Heights-Cobble Hill Financial District Chinatown Lower East Side East Village BOROUGHS Staten Island Bronx Queens Manhattan Brooklyn CITIES Paterson Hackensack Bayonne Paramus East Orange Hoboken Newark Clifton Jersey City West New York Linden Fort Lee STATES North Carolina Virginia West Virginia Michigan Massachusetts Pennsylvania Vermont South Carolina New Hampshire District of Columbia New Jersey We are telling CRE's story Traded is the #1 source for cutting-edge CRE transactions & insights. 1M+ DEALS 100K+ USERS 47 MARKETS 1.2M+ FOLLOWERS Browse Closings by State National Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Minnesota Mississippi Missouri Montana Nebraska Nevada New Mexico North Dakota Ohio Oklahoma Oregon Rhode Island South Dakota Tennessee Texas Utah Washington Wisconsin Wyoming Search News Agents Agencies About About Us FAQ Testimonials Help Help Center Pricing Return Policy Follow a feed NY @tradedny MIA @tradedmiami LA @tradedla CHI @tradedchicago BOS @tradedboston DAL @tradeddallas NJ @tradednj 18.2K The Traded Weekly Every major deal & ranking update — Friday mornings. Email © 2026 Traded Media LLC · All rights reserved. Terms & Conditions Privacy Disclaimer Cookie Policy Do Not Sell My Info Acceptable Use