Sticky's Finger Joint Signs 12-Year Retail Lease At 1450 Broadway, Manhattan
1450 Broadway, Brooklyn, NY 11221, USA
Building Size
1,892 SF
Asset Type
Retail
Closing
Nov 28, 2020
About this deal
AI
The retail lease located at 1450 Broadway X in Manhattan has been successfully closed. The property spans a total of 1,892 square feet, with 1,292 square feet on the ground floor and 600 square feet in the basement. The asking rent for this space was $387 per square foot, resulting in a monthly rent of $61,000. The lease term agreed upon is for a period of 12 years.
Summary of transaction details
- Property Type: Retail Lease
- Address: 1450 Broadway X, West 41st Street, New York City
- Market: Manhattan
- Asking Rent: $387 per square foot
- Lease Size: 1,892 square feet (1,292 SF on Ground & 600 SF in BSMT)
- Asking Monthly Rent: $61,000
- Term: 12 years
The successful completion of this retail lease was facilitated by the efforts of Danielle Winick, Jeff Winick, Jon Sherman, and Paul Abrahamian. Representing the tenant in this transaction was StickysFingerJoint. Their expertise and negotiation skills were instrumental in securing the lease agreement.
Players
New York Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
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Deal FAQ
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