Times Square Froyo, LLC Leases Retail Space On Broadway In Times Square
1606 Broadway, Manhattan, New York, NY, USA
Building Size
900 SF
Asset Type
Retail
Closing
Dec 21, 2020
AI
The retail property located at 1606 Broadway (732 Seventh Avenue) in Times Square has been leased. The asset has a total square footage of 900 square feet and was leased by Times Square Froyo, LLC (d/b/a 16 Handles). The lease transaction was facilitated by David R. Lachtman Esq. from Lachtman Cohen P.C. serving as the tenant's counsel. The asking rent for the property was $222 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Not applicable in a lease transaction
- Date: 12/22/2020
- Market: Times Square
David R. Lachtman Esq. from Lachtman Cohen P.C. represented the tenant, Times Square Froyo, LLC (d/b/a 16 Handles), in the lease deal.
Players
New York Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
Loading comparables…
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