The transaction encompasses the property's sub-basement, sellinglower level, ground floor and second floors, each containing 10,000square feet. The building's remaining three floors are occupied bymedia and fashion companies and are not affected by thistransaction, the release states.

Retailer Yellow Rat Bastard currently occupies the ground floor,selling lower level and sub-basement, while the second floor iscurrently vacant. Aurora Capital's immediate plan is to lease thesecond floor office space, and eventually combine the 40,000 squarefeet to create a flagship retail space.

"Aurora Capital views its leasehold at 483 Broadway as astrategic long-term investment in Soho," says Jared Epstein,Aurora's VP of leasing and acquisitions, in a release. "Thisparticular section of Broadway is one of the strongest in New Yorkretail. For example, the conversion rates on this block are amongthe best in the world, and many retailers have sales volumes at orabove $2,000 per square foot."