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1450 Broadway

International Restaurant Group Leases Retail Space At 1450 Broadway In Midtown West For $278/ft
LEASEDRetail

International Restaurant Group Leases Retail Space At 1450 Broadway In Midtown West For $278/ft

1450 Broadway

$278

$278/SF

Building Size

3,000 SF

Asset Type

Retail

Closing

Feb 12, 2025

AI

The property asset involved in this transaction is a retail space located at 1450 Broadway in the Midtown West market. The long-term retail lease has an asking rent of $278 per square foot for a total area of 3,000 square feet.

Summary of transaction details:

The deal features prominent brokers representing both sides, with John DiGangi and Brandon Singer from Retail By Mona representing the landlord ZG Capital while Ike Bibi and Carolina Aziz from KSR represent the tenant, International Restaurant Group.

Players

Ike Bibi

Kassin Sabbagh Realty

Broker

$274.3M

vol

125 deals

Broker
ZC
ZG CapitalLandlord

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

57061.15%

Cash-on-Cash

-16308.25%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93