160 Realty Development's Awesome Dim Sum Leases 3,000 SF Retail Space At 160 East 23rd St
160 E 23rd St, New York, NY 10010, USA
Building Size
3,000 SF
Asset Type
Retail
Closing
Sep 5, 2019
About this deal
AI
The retail property located at 160 East 23rd Street in Gramercy Park has undergone a closed transaction. The property spans 3,000 square feet, with 2,000 square feet on the ground floor and an additional 1,000 square feet on the selling lower level. The asking rent for this space was $120 per square foot. The property was leased by Awesome Dim Sum.
Summary of transaction details
- Property Type: Retail
- Tenant: Awesome Dim Sum
- Landlord: 160 Realty Development – Richard NG
- Landlord's Rep: Clayton Traynham & James Famularo
Clayton Traynham and James Famularo represented the landlord, 160 Realty Development, in this transaction. They facilitated the lease agreement between the landlord and tenant, Awesome Dim Sum.
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