Clown Car Leases Retail Space In Lower East Side Manhattan With Okada & Company
183 Bowery
$150
$150/SF
Building Size
5,000 SF
Asset Type
Retail
Closing
Mar 1, 2024
AI
The retail property at 183 Bowery located in the Lower East Side, Manhattan, was leased through a ground lease. The asset spans 5,000 square feet with an asking rent of $150 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not provided
- Address: 183 Bowery, New York, NY
- Market: Lower East Side, Manhattan
- Landlord: Peter Fung
- Tenant: Clown Car
- Brokers: Avery Reavill, Francis Leung, & Christopher Okada - Okada & Company
- Size: 5,000 SF
The lease transaction was facilitated by Avery Reavill, Francis Leung, and Christopher Okada of Okada & Company. This deal marks the 20th transaction of the year for the brokerage, with a total of 684,471 square feet of space leased since 2021. Okada & Co. prides itself on its extensive portfolio in Midtown Manhattan, highlighting its success in the post-pandemic office market.
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
105753.33%
Cash-on-Cash
-30224.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93