Cream Smoke Shop Leases Retail Space At 1263 Broadway In Manhattan
1263 Broadway, New York City, New York 10001, United States
Building Size
2,600 SF
Asset Type
Retail
Closing
Jun 21, 2022
AI
The retail space located at 1263 Broadway in Manhattan has been leased. The property covers an area of 2,600 square feet and was leased for an asking rent of $110 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Leased for an asking rent of $110/ft.
The landlord for this transaction was Robert F. Olden. The tenant, Cream Smoke Shop, will be occupying the leased space. The deal was facilitated by broker Jessilyn Chen.
Players
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