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2461 Broadway

Verada Leases Retail Space At 2461 Broadway, Upper West Side To Blank Street Coffee
LEASED

Verada Leases Retail Space At 2461 Broadway, Upper West Side To Blank Street Coffee

2461 Broadway

Building Size

Asset Type

Closing

Sep 15, 2022

AI

The retail asset located at 2461 Broadway in the Upper West Side market encompasses a space of 1,005 square feet. The asking rent for this property was set at $215 per square foot.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $215/ft.
  • Address: 2461 Broadway
  • Market: Upper West Side
  • Landlord: Adam America & Northlink Capital
  • Tenant: Blank Street Coffee
  • Landlord's Representative: Brendan Thrapp & Nate Mallon - Verada

Verada successfully facilitated the lease of this retail portion to Blank Street Coffee prior to the completion of the building project. Brendan Thrapp and Nate Mallon represented the landlords in this transaction.

Players

Adam America

Northlink Capital

Landlord

$289.6M

vol

12 deals

Landlord
BC
Blank Street CoffeeTenant

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