712-714 Broadway (2-Retail Condos Units)

Master Lease in Perpetuity
The ownership interest for this property is held through a master lease in perpetuity of the retail stores. The terms of the lease are as follows: Lease Expiration 12/31/2075 (subject to lease extensions in perpetuity)
Lease Extensions: If at any time during the term of this lease, the proprietary leases for the residential apartments in this Building are extended, the term of this lease shall be extended to be coterminous with the expiration date of the extended terms of the proprietary leases.
Rent Expense Calculation: The rent payable by the master lease holder for year during the term of this lease shall equal a percentage of the Building’s “Cash Requirements”:
Unit 1 A
19.08 Shares – 8.67273%
Unit 1 B
21.90 Shares – 9.95454%
Tenant Overview:
2nd STREET USA, Inc. a subsidiary of GEO Holdings (TOKYO:2681), buys and sells used clothing and accessories. 2nd STREET began in Japan in 1996 and has grown to 700 locations in Japan. 2nd STREET opened it’s first US in Melrose, in Los Angeles County, California, in January of 2018. Since then, 2nd STREET USA has expanded to 21 locations in the United States. 2nd STREET NoHo carries approximately 10,000 items of men’s and women’s clothing and accessories, including a rich selection of items from international brands like Saint Lauren, Balenciaga, and Off White, as well as Japanese brands like COMME des GARCONS, Issey Miyake, and Yohji Yamamoto. A section within the store focuses exclusively on Japanese brands. 2nd STREET NoHo offers a wide range of items of bags and accessories, from luxury brands like Louis Vuitton, Chanel, and Gucci.
Buffalo Exchange founded in 1974 , buys, sells and trades clothing & accessories. Buffalo Exchange offers customers 25% in cash or 50% in trade on-the-spot for current trends, designer, everyday styles, vintage and one-of-a-kind fashion finds. Since 1974, Buffalo Exchange has grown to over 40 stores.