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1606 Broadway, Manhattan, N...

Times Square Froyo, LLC Leases Retail Space On Broadway In Times Square
LEASEDRetail

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

David R Lachtman

Broker

$209.1M

vol

12 deals

Broker

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