Justin Freiberg Leases Retail Space To Loup At 354 Broome Street In Nolita, Manhattan
354 Broome Street
$175
$175/SF
Building Size
1,000 SF
Asset Type
Mixed-use
Closing
Aug 1, 2024
AI
The property involved in this transaction is a retail asset located at 354 Broome Street in the Nolita market of Manhattan. The asking rent for the space is set at $175 per square foot, covering a total area of 1,000 square feet. The lease term is long term, structured as a modified gross lease.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $175/ft
- Square Footage: 1,000
- Landlord: Justin Freiberg
- Tenant: Loup
- Landlord's Representative: Ravi Idnani & Andrew Stern - Newmark Knight Frank
- Tenant's Representative: Kim Skarvelis & Beth Chase - Cast Iron Real Estate
This transaction features key representatives in the deal, with Ravi Idnani and Andrew Stern from Newmark Knight Frank representing the landlord, Justin Freiberg. The tenant, Loup, is represented by Kim Skarvelis and Beth Chase from Cast Iron Real Estate.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
90645.71%
Cash-on-Cash
-25906.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93