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113 Reade St, New York, NY,...

Serafina Restaurant Group Leases 5400 Square Feet At 113 Reade St New York With Triumph Hotels
LEASED

Serafina Restaurant Group Leases 5400 Square Feet At 113 Reade St New York With Triumph Hotels

113 Reade St, New York, NY, 10013

Building Size

5,400 SF

Asset Type

Closing

Nov 19, 2023

AI

The lease pertains to a property located at 113 Reade St, New York, NY, 10013. The total area of the property spans 5,400 square feet, situated within the New York market.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Address: 113 Reade St, New York, NY, 10013
  • Market: New York
  • Square Feet: 5400
  • Tenant: Serafina Restaurant Group
  • Landlord: Triumph Hotels
  • Tenant's Representative: David Latman - DLL Real Estate
  • Landlord's Representative: David Abrams

The transaction involves key individuals including David Latman, representing Serafina Restaurant Group, and David Abrams, representing Triumph Hotels. Their roles emphasize the collaborative efforts involved in finalizing the lease agreement for the specified property.

Players

David Abrams

Masonre

Broker

$17.3M

vol

19 deals

Broker
TH
Triumph HotelsLandlord
SG
Serafina Restaurant GroupTenant

New York CRE Market Snapshot

Boundary boundary · CRE · 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