CBD Kratom Leases Retail Space At 1420 Broadway In Midtown Manhattan
1420 Broadway, Manhattan, New York, NY, USA
Building Size
2,400 SF
Asset Type
Retail
Closing
Mar 21, 2021
About this deal
AI
The retail property located at 1420 Broadway in Midtown has been leased. The lease transaction was finalized on 03/22/2021.
Summary of transaction details:
- Property Type: Retail
- Address: 1420 Broadway, Midtown
- Tenant: CBD Kratom
- Landlord: AB And Sons & Aini Group
- Tenant's Representative: George Skaliarinis
- Landlord's Representatives: Ike Bibi, Carolina Aziz, and David Green from Kassin Sabbagh Realty
- Asking Rent: $195 per square foot
- Total Square Footage: 2,400 sqft
The lease agreement was facilitated by George Skaliarinis, representing CBD Kratom, and Ike Bibi, Carolina Aziz, and David Green from Kassin Sabbagh Realty, representing the landlord, AB And Sons & Aini Group.
It is worth noting that the second and third floors of the property are also available for lease. For more information, interested parties can contact Carolina Aziz, David Green, or Ike Bibi.
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