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:
- Property Type: Retail
- Transaction Amount: Lease
- Address: 10 East 16th Street, Union Square
- Tenant: Botanica Bar
- Landlord's Rep: Andrew Stern & Ravi Idnani - Newmark
- Tenant's Rep: Kevin Bisconti - Meridian Capital Group
- Asking Rent: $125/ft
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
Huntington Station Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
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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