Tri Coffee Corp. Leases Retail Space At 1450 Broadway In Times Square With Brokers David Green, Ike Bibi, And David Sabbagh - KSR
1450 Broadway, New York City, New York 10018, United States
Building Size
1,100 SF
Asset Type
Retail
Closing
Mar 7, 2022
About this deal
AI
The retail property at 1450 Broadway in Times Square has been leased by Tri Coffee Corp. The lease was facilitated by brokers David Green, Ike Bibi, and David Sabbagh of KSR. The property spans 1,100 square feet and the asking rent is $400 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Leased
- Date: 03/08/2022
- Address: 1450 Broadway
- Market: Times Square
- Landlord: Babak Zar
- Tenant: Tri Coffee Corp.
- Brokers: David Green, Ike Bibi, and David Sabbagh - KSR
- Asking Rent: $400 per square foot
- Square Footage: 1,100
The deal was successfully negotiated with the involvement of brokers David Green, Ike Bibi, and David Sabbagh of KSR, representing the tenant Tri Coffee Corp. The lease agreement was settled at an asking rent of $400 per square foot.
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Retail
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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