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959 8th Ave, New York, NY, ...

Panera Bread Leases Industrial Space At 959 8th Ave, New York By Hearst Corporation
LEASEDIndustrial

Panera Bread Leases Industrial Space At 959 8th Ave, New York By Hearst Corporation

959 8th Ave, New York, NY, 10019

Building Size

2,510 SF

Asset Type

Industrial

Closing

May 18, 2022

AI

The industrial property located at 959 8th Ave, New York, NY, 10019, boasts 2510 square feet of space. The lease was finalized on May 18, 2022, with Panera Bread securing the tenancy. The landlord, Hearst Corporation, was represented in the transaction by Lou Nowikas.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: Not Applicable
  • Market: New York
  • Tenant: Panera Bread
  • Landlord: Hearst Corporation
  • Square Feet: 2510
  • Landlord's Rep: Lou Novikas

The deal involved the Hearst Corporation as the landlord and Panera Bread as the tenant for the industrial property. Lou Nowikas acted as the landlord's representative in finalizing the lease agreement.

Players

Lou Nowikas

Broker

1 deal

Broker
PB
Panera BreadTenant

New York Industrial Market Snapshot

Boundary boundary · Industrial · 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