Carnegie Diner & Cafe Leases Restaurant Space At Martinique New York Hotel In Midtown West
1262 Broadway
Building Size
10,000 SF
Asset Type
Hotel
Closing
May 31, 2026
AI
The property involved in this transaction is a hotel asset located at 1262 Broadway in Midtown West, comprising 10,000 square feet. This space is designated as a bi-level restaurant and coffee bar within the Martinique New York on Broadway hotel. The lease is categorized as a Modified Gross Lease.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: Not specified
- Address: 1262 Broadway
- Market: Midtown West
- Landlord: Burnett Equity
- Tenant: Carnegie Diner & Cafe
- Tenant & Landlord's Representative: Danny Volk, Kayla Terzi & Marc Johnson - Vantage Real Estate Advisors
- Lease Type: Modified Gross Lease
The deal was facilitated by the representation of Danny Volk, Kayla Terzi, and Marc Johnson from Vantage Real Estate Advisors, who acted on behalf of both the landlord and tenant. This collaboration highlights the strategic partnership between the involved parties to secure this restaurant space within the hotel property.
Players
New York Hotel Market Snapshot
Boundary boundary · Hotel · 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