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10 East 16th Street

Updated Oct 29, 2024

Botanica Bar Leases Retail Space At 10 East 16th Street In Union Square With Tenant's Rep Kevin Bisconti - Meridian Capital Group
LEASEDRetail

Botanica Bar Leases Retail Space At 10 East 16th Street In Union Square With Tenant's Rep Kevin Bisconti - Meridian Capital Group

10 East 16th Street

$125

$125/SF

Building Size

2,100 SF

Asset Type

Retail

Closing

Apr 1, 2023

About this deal

AI

The leased property located at 10 East 16th Street in Union Square is a retail space with a total area of 2,100 square feet. The tenant, Botanica Bar, has entered into a lease agreement for this space. The lease was facilitated by Kevin Bisconti from Meridian Capital Group, who represented the tenant. On the other side, the landlord was represented by Andrew Stern and Ravi Idnani from Newmark.

Summary of transaction details:

Botanica Bar will now operate in the leased retail space at 10 East 16th Street, Union Square. The deal was successfully brought together through the efforts of Kevin Bisconti from Meridian Capital Group, who represented the tenant, and Andrew Stern and Ravi Idnani from Newmark, who represented the landlord. This lease transaction emphasizes the value and potential of the retail market in Union Square.

Players

Andrew Stern

Newmark

Broker

$5.4M

vol

80 deals

Broker

Huntington Station Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

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Deal FAQ

About $125 per square foot on a published $125 for 2,100 square feet (2023).

Visit Ravi Idnani to view all their deals.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

126904.00%

Cash-on-Cash

-36269.55%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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