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1 William St, Newark, NJ, 0...

Paramount Assets Leases Retail Space To Go! Go! Curry In Newark
LEASEDRetail

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

Ryan Starkman

Pierson Commercial

Broker

7 deals

Broker
PA
Paramount AssetsLandlord

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