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
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