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14 East 23rd Street, Manhat...

Popeyes Louisiana Kitchen Leases Retail Space At 14 East 23rd Street In Flatiron
LEASEDRetail

Popeyes Louisiana Kitchen Leases Retail Space At 14 East 23rd Street In Flatiron

14 East 23rd Street, Manhattan, New York, NY, USA

Building Size

4,750 SF

Asset Type

Retail

Closing

Dec 31, 2020

AI

The retail property located at 14 East 23rd Street in the Flatiron market has recently been leased. The tenant, Popeyes Louisiana Kitchen, has signed a lease agreement with the landlord, Gus Benetos. The leasing deal was facilitated by brokers James Famularo from Meridian Retail Leasing and Louis Franco from Isa Realty Group. The lease was executed on January 1, 2021, and the property has a total square footage of 4,750. The asking rent for the space was $200 per square foot.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Date: 01/01/2021
  • Address: 14 East 23rd Street
  • Market: Flatiron
  • Tenant: Popeyes Louisiana Kitchen
  • Landlord: Gus Benetos
  • Brokers: James Famularo - Meridian Retail Leasing, Louis Franco - Isa Realty Group
  • Asking Rent: $200 per square foot
  • Square Footage: 4,750

James Famularo from Meridian Retail Leasing and Louis Franco from Isa Realty Group played instrumental roles in negotiating the leasing deal for the retail space at 14 East 23rd Street. This transaction highlights their expertise in the Flatiron market. The lease agreement between Popeyes Louisiana Kitchen and landlord Gus Benetos signifies a successful collaboration between tenant and landlord.

Players

James Famularo

Meridian Capital Group

Broker

$11.4M

vol

368 deals

Broker
PK
Popeyes Louisiana KitchenTenant

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