facebook
TradedTraded
    Home
    Search
    Closings
    Listings
    On Market
    Off Market
    Add a listing
    Vaults
    shh
    Rankings
    News
    Data
    Socials
    More


Messages

Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

New Jersey

/

Retail

/

Lease

/

221 River Street

SJP Properties Leases Retail Space In Hoboken To Wonder For Gold Coast Location
LEASEDRetail

SJP Properties Leases Retail Space In Hoboken To Wonder For Gold Coast Location

$120

$120/SF

Building Size

3,700 SF

Asset Type

Retail

Closing

Jul 24, 2023

AI

SJP Properties has leased 3,700 sq ft of retail space located at 221 River Street in Hoboken to Wonder. The property, known as Waterfront Corporate Center III, will be the location for Wonder's first Gold Coast outpost. The retail space will offer exclusive menus from renowned chefs and award-winning restaurants for delivery, pickup, and dine-in options. The asking rent for the space was $120 per square foot.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Lease
  • Address: 221 River Street, Hoboken
  • Market: Hoboken

Leading the deal for SJP Properties was Alexander Erdos, while Marta Villa from CBRE represented the landlord in this transaction. Wonder was represented by JP Pirraglia from Ripco Real Estate. Marc Lore and Andrew Gasper are the founders of Wonder and have been instrumental in establishing the company's "Fast Fine" dining concept. The team at Wonder is bringing their unique dining experience to the Gold Coast, marking a significant expansion for the company.

Players

Marta Villa

CBRE

Broker

$10.1M

vol

15 deals

Broker
SJP Properties
SJP PropertiesLandlord
W
WonderTenant

Market Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

132191.67%

Cash-on-Cash

-37780.78%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93