Paramount Assets Leases Retail Space To Go! Go! Curry In Newark
1 William St, Newark, NJ, 07102
Building Size
1,500 SF
Asset Type
Retail
Closing
Nov 22, 2023
AI
The property asset involved in this transaction is a 1,500-square-foot retail space located at 1 William St, Newark, NJ, 07102. This retail space is situated at the base of the William Flats project, a newly constructed boutique apartment building. The asset is part of a growing commercial landscape that includes other national tenants.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not disclosed
- Address: 1 William St, Newark, NJ, 07102
- Landlord: Paramount Assets
- Tenant: Go! Go! Curry
- Tenant's Representative: Ryan Starkman-Pierson Commercial
The deal was completed by Samir Guzman, who is Paramount's executive director of leasing and marketing, representing the ownership. Franchise owners Joy Lumbres and Patrick Lumbres expressed excitement about bringing Go! Go! Curry to Newark and highlighted the professionalism and market knowledge they experienced while working with Paramount Assets during the leasing process.
Players
Newark 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