Pizza Hut Leases Retail Space At 1588 Saint Nicholas Avenue In New York City
1588 Saint Nicholas Avenue
$100
$100/SF
Building Size
1,250 SF
Asset Type
Retail
Closing
Jan 18, 2023
AI
Pizza Hut has signed a lease agreement for a retail space located at 1588 Saint Nicholas Avenue in New York City. The property, owned by Solar Management, spans 2,500 square feet and was marketed at an asking rent of $100 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Lease
- Address: 1588 Saint Nicholas Avenue
- Market: New York City
The landlord's representatives, Andrew Stern and Ravi Idnani from Newmark, facilitated the deal on behalf of Solar Management. Pizza Hut was represented in the lease transaction by Bruce Herman from Booth Street.
Players
Market 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
158630.00%
Cash-on-Cash
-45336.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93