Buttercup Bakery Leases Retail Space At 2664 Broadway In Upper West Side From Niew Amsterdam Management
2664 Broadway
$180
$180/SF
Building Size
1,200 SF
Asset Type
MultiFamily
Closing
Nov 15, 2024
AI
The property asset involved in this transaction is a multifamily retail lease located at 2664 Broadway in the Upper West Side market. The asking rent is $180 per square foot, with a total square footage of 1,200. This site houses the well-known "Broadway Restaurant" space, which had been operational for over 40 years before welcoming a new tenant, Buttercup Bakery.
Summary of transaction details:
- Property Type: Retail Lease
- Transaction Amount: $180/ft
- Address: 2664 Broadway
- Market: Upper West Side
- Square Footage: 1,200
- Landlord: Niew Amsterdam Management
- Tenant: Buttercup Bakery
- Landlord's Representatives: Tyler Zar, Adam Lavian & Tanner Zar - Titan Group New York; Matthew Jacoby - Vector New York
- Tenant's Representative: Jack Hurley - Isa Realty Group
- Lease Type: Retail Lease
This transaction showcases the collaboration between multiple representatives, including Titan Group New York, which specializes in commercial and residential leasing. The landlord's representatives, Tyler Zar, Adam Lavian, and Tanner Zar, played a significant role in facilitating the lease to Buttercup Bakery, represented by Jack Hurley of Isa Realty Group. A note from the landlord's representatives indicates their strong credentials in helping landlords lease their vacant units efficiently.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Lease transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
88127.78%
Cash-on-Cash
-25187.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93