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1450 Broadway, Brooklyn, NY...

Updated Dec 20, 2023

Sticky's Finger Joint Signs 12-Year Retail Lease At 1450 Broadway, Manhattan
LEASEDRetail

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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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

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