Jose Andres Leases Retail Space At 115 Mulberry Street In NoLiTa From Centennial Properties
115 Mulberry Street, Manhattan, New York, NY, USA
Building Size
2,450 SF
Asset Type
Retail
Closing
Jul 29, 2020
About this deal
AI
The retail property located at 115 Mulberry Street in NoLiTa has been leased. The transaction took place on July 29, 2021. The property, spanning 2,450 square feet, was leased by the tenant, Jose Andres. The landlord of the property is Centennial Properties, represented by Steven Croman. The deal was facilitated by brokers James Famularo and Clayton Traynham from Meridian Retail Leasing.
Summary of Transaction Details
- Property Type: Retail
- Lease Date: July 29, 2021
- Address: 115 Mulberry Street
- Market: NoLiTa
- Tenant: Jose Andres
- Landlord: Centennial Properties - Steven Croman
- Brokers: James Famularo & Clayton Traynham from Meridian Retail Leasing
- Asking Rent: $114/ft.
The lease transaction between Jose Andres and Centennial Properties demonstrates the active retail market in NoLiTa. James Famularo and Clayton Traynham from Meridian Retail Leasing played a crucial role as brokers in facilitating this deal.
On the Map
Retail
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Players
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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