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
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