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1225 Broadway, New York, Ny...

Haidilao Hotpot Leases Mixed-Use Space At 1225 Broadway In NoMad Market, Tenant's Rep Hentz Menard - Corcoran & Dee Huang - Ai Home Realty, Landlord's Rep Adam Weinblatt, Mitch Friedel - Newmark Knight Frank
LEASEDMixed-use

Haidilao Hotpot Leases Mixed-Use Space At 1225 Broadway In NoMad Market, Tenant's Rep Hentz Menard - Corcoran & Dee Huang - Ai Home Realty, Landlord's Rep Adam Weinblatt, Mitch Friedel - Newmark Knight Frank

1225 Broadway, New York, Ny 10001, Usa

Building Size

10,000 SF

Asset Type

Mixed-use

Closing

Sep 3, 2020

AI

Located in the NoMad market, the mixed-use property at 1225 Broadway has recently been leased. The property spans approximately 10,000 square feet and was listed with an asking rent of $130 per square foot. The actual rent achieved for the space is estimated to be between $100 and $115 per square foot. The tenant, Haidilao Hotpot, will occupy the property.

Summary of transation details

  • Property Type: Mixed-use
  • Transaction Amount: Lease
  • Address: 1225 Broadway
  • Market: NoMad
  • Asking Rent: $130/ft.
  • Approximate Square Footage: 10,000

Haidilao Hotpot is represented by Hentz Menard from Corcoran and Dee Huang from Ai Home Realty. On the other side, the landlord, The LAM Group, is represented by Adam Weinblatt and Mitch Friedel of Newmark Knight Frank.

Players

Hentz Menard

eXp World Holdings

Broker

1 deal

Broker
LG
Lam GroupLandlord

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93