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1147 Broadway, New York Cit...

Plnt Burger Leases Retail Space At 1147 Broadway In Nomad
LEASEDRetail

Plnt Burger Leases Retail Space At 1147 Broadway In Nomad

1147 Broadway, New York City, New York 10001, United States

Building Size

1,700 SF

Asset Type

Retail

Closing

Jan 31, 2022

AI

The retail space located at 1147 Broadway in the Nomad market has been leased. The property, with a size of 1,700 square feet, was leased by Plnt Burger. The lease transaction was facilitated by Michael Cohen from Newmark, who represented the tenant. The landlord, Astro Capital Group, was represented by Carolina Aziz and Ike Bibi from KSR. The asking rent for the space was $300 per square foot.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Lease
  • Date: 02/01/2022
  • Address: 1147 Broadway
  • Market: Nomad
  • Tenant: Plnt Burger
  • Tenant's Representative: Michael Cohen - Newmark
  • Landlord: Astro Capital Group - David Israel & Jack Israel
  • Landlord's Representatives: Carolina Aziz & Ike Bibi - KSR

Carolina Aziz and Ike Bibi from KSR represented Astro Capital Group in the lease transaction. The deal was finalized with Plnt Burger, a tenant that secured the retail space. Michael Cohen from Newmark served as the tenant's representative during the negotiation process.

Players

Ike Bibi

Kassin Sabbagh Realty

Broker

$274.3M

vol

125 deals

Broker

Jack Israel

Landlord

$635K

vol

2 deals

Landlord

New York 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93