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196 Allen St, New York, NY,...

Beloved Cafe Leases Retail Space At 196 Allen St, New York
LEASEDRetail

Beloved Cafe Leases Retail Space At 196 Allen St, New York

196 Allen St, New York, NY, 10002

Building Size

1,700 SF

Asset Type

Retail

Closing

Nov 22, 2023

AI

The retail property located at 196 Allen St, New York, NY, 10002, boasting 1700 square feet, has recently been leased. Beloved Cafe will be the new tenant of this space, represented by Steve Rappaport of Sinvin Realty, while the landlord is Allen Orchard.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not Applicable
  • Tenant: Beloved Cafe
  • Tenant's Rep: Steve Rappaport (Sinvin Realty)
  • Landlord: Allen Orchard
  • Square Feet: 1700
  • Market: New York

Steve Rappaport, from Sinvin Realty, acted as the tenant's representative in the lease deal for the retail space at 196 Allen St. This transaction brings together Beloved Cafe, a well-known establishment, with the property owner, Allen Orchard, providing a new chapter for this space in the vibrant market of New York.

Players

Steve Rappaport

Sinvin Realty

Broker

5 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