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1177 Broadway New York, NY ...

7th Street Burger Leases Retail Space At 1177 Broadway In NoMad
LEASEDRetail

7th Street Burger Leases Retail Space At 1177 Broadway In NoMad

1177 Broadway New York, NY 10001, USA

$400

$400/SF

Building Size

1,100 SF

Asset Type

Retail

Closing

Aug 24, 2023

AI

The retail property located at 1177 Broadway in the NoMad market has been leased. The property spans an area of 1,100 square feet and was leased by the tenant, 7th Street Burger. The lease deal was facilitated by Carolina Aziz, David Green, Daniel Kestenbaum, and Ike Bibi of Kassin Sabbagh Realty acting as brokers.

Summary of transaction details

  • Property Type: Retail
  • Address: 1177 Broadway
  • Market: NoMad
  • Tenant: 7th Street Burger
  • Brokers: Carolina Aziz, David Green, Daniel Kestenbaum, and Ike Bibi - Kassin Sabbagh Realty

The landlord of the property is Jack Terzi. The lease transaction for the retail space was completed with an asking rent of $400 per square foot.

Players

Daniel Kestenbaum

Kassin Sabbagh Realty

Broker

23 deals

Broker
Jack Terzi

Jack Terzi

JTRE Holdings

Landlord

$114.6M

vol

13 deals

Landlord
7B
7th Street BurgerTenant

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

39657.50%

Cash-on-Cash

-11334.24%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93