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
About this deal
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:
- Property Type: Retail
- Transaction Amount: $278/ft
- Lease Term: Long term
- Lease Type: Retail Lease
- Landlord: ZG Capital
- Tenant: International Restaurant Group
- Brokers: John DiGangi & Brandon Singer - Retail By Mona; Ike Bibi & Carolina Aziz - KSR
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.
On the Map
$278
$278/SF
Retail
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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
57061.15%
Cash-on-Cash
-16308.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93