Updated Oct 29, 2024
Grand Canyon Restaurant Leases Retail Space At 514 Third Avenue In New York
514 Third Avenue
$176
$176/SF
Building Size
1,500 SF
Asset Type
Retail
Closing
Mar 10, 2023
About this deal
AI
The Grand Canyon Restaurant at 514 Third Avenue in New York has been leased. The retail property, spanning 1,500 square feet, was leased to Grand Canyon Restaurant. The lease was handled by brokers James Famularo and Evan Roteman from the Meridian Capital Group. The asking rent for the space was $176 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Lease
- Address: 514 Third Avenue, New York
- Tenant: Grand Canyon Restaurant - Gonzalo Carreto
- Broker: James Famularo & Evan Roteman - Meridian Capital Group
- Asking Rent: $176 per square foot
- Size: 1,500 square feet
The lease of the Grand Canyon Restaurant on 514 Third Avenue was facilitated by James Famularo and Evan Roteman from the Meridian Capital Group. The deal saw the retail property being leased to Grand Canyon Restaurant, with an asking rent of $176 per square foot.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
90130.68%
Cash-on-Cash
-25759.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93