Building Equity Management Leases Retail Space To Grande Gusto Restaurant At 188 Grand Street In SoHo East, Manhattan
188 Grand Street
$195
$195/SF
Building Size
2,500 SF
Asset Type
Retail
Closing
Sep 1, 2023
About this deal
AI
Grande Gusto Restaurant has recently signed a lease agreement for a retail space located at 188 Grand Street in the SoHo East neighborhood of Manhattan. The property, managed by Building Equity Management, offers a total area of 2,500 square feet. The lease is classified as a full-service gross lease, with an asking rent of $195 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Lease Agreement
- Address: 188 Grand Street
- Market: SoHo East, Manhattan
- Landlord: Building Equity Management
- Tenant: Grande Gusto Restaurant
- Broker: Jared Minc - Building Equity Management LLC
- Asking Rent: $195/ft
- Square Footage: 2,500
- Lease Type: Full-Service Gross
The lease transaction was facilitated by Jared Minc from Building Equity Management LLC, acting as the landlord's representative throughout the deal. Grande Gusto Restaurant, an esteemed eatery, will soon be opening its doors at this prime retail space, adding to the vibrant culinary scene in SoHo East.
Players
Market 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
81348.72%
Cash-on-Cash
-23249.71%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93