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
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