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141 East 57th Street

Cafe & Sweets Shoppe On 57th Leases Retail Space At 141 East 57th Street In Sutton Place, Manhattan
LEASEDRetail

Cafe & Sweets Shoppe On 57th Leases Retail Space At 141 East 57th Street In Sutton Place, Manhattan

141 East 57th Street

$150

$150/SF

Building Size

2,050 SF

Asset Type

Retail

Closing

Nov 6, 2023

AI

Located in Sutton Place, Manhattan, the retail space at 141 East 57th Street has been leased to Cafe & Sweets Shoppe On 57th. The property spans 2,050 square feet and was leased under a modified gross lease agreement. The asking rent for the space was $150 per square foot.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Not mentioned
  • Address: 141 East 57th Street
  • Market: Sutton Place, Manhattan

Leo Fox, the landlord, represented by Meagan Bonan from Cushman & Wakefield, successfully leased the space to Cafe & Sweets Shoppe On 57th. Andrew Stern and Ravi Idnani from Newmark represented the tenant in the deal.

Players

Andrew Stern

Newmark

Broker

$5.4M

vol

76 deals

Broker

Market 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

105753.33%

Cash-on-Cash

-30224.63%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93