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1932 Broadway

Danny Wegman Signs Lease For Second Manhattan Location Near Lincoln Center
LEASEDRetail

Danny Wegman Signs Lease For Second Manhattan Location Near Lincoln Center

1932 Broadway

Building Size

58,874 SF

Asset Type

Retail

Closing

Feb 13, 2024

AI

Danny Wegman, Chairman of Wegmans, has signed a lease for 58,874 square feet at 1932 Broadway in Manhattan. This location near Lincoln Center could potentially be the grocery chain's second Manhattan store.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Square Footage: 58,874
  • Address: 1932 Broadway
  • Market: Manhattan

The landlord for this lease agreement is Harry Litwin and Leonard Litwin of Glenwood Management. The tenant, Danny Wegman, will be opening a new Wegmans store in this space. The deal was facilitated by brokers Ben Davis, Gene Spiegelman, Peter Ripka, and Beth Rosen of Ripco.

Players

Peter Ripka

Ripco

Broker

8 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