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240 Northwest 25th Street, ...

Joe Pozzuoli's JoesPizzaNYC Leases Retail Space In Miami For 10 Years
LEASEDRetail

Joe Pozzuoli's JoesPizzaNYC Leases Retail Space In Miami For 10 Years

240 Northwest 25th Street, Miami, FL 33127

Building Size

1,758 SF

Asset Type

Retail

Closing

Sep 1, 2021

AI

The retail property located at 240 NW 25th Street in Miami has recently been leased. The lease was signed on 09/01/2021.

Summary of transaction details:

The tenant, Joe Pozzuoli, representing Joe's Pizza NYC, signed the lease agreement. The tenant's representatives, Jared Robins from INHOUSE Commercial and John Ellis from Newmark, assisted in the negotiation. On the other side, the landlord, Related Group and East End Capital, was represented by Tony Arellano and Joe Fernandez from DWNTWN Realty Advisors. The lease was for a period of 10 years with an asking rent of $75 per square foot.

Players

Tony Arellano
Verified Badge

Tony Arellano

DWNTWN Realty Advisors

Broker

$1.6B

vol

152 deals

Broker
Related Group
Related GroupLandlord

Miami Retail Market Snapshot

Boundary boundary · Retail · 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