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
About this deal
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