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2178 Broadway

Charlie Levy's Motek Signs Lease At 2178 Broadway In Manhattan With Landlord Ben Ashkenazy
LEASEDRetail

Charlie Levy's Motek Signs Lease At 2178 Broadway In Manhattan With Landlord Ben Ashkenazy

2178 Broadway

Building Size

Asset Type

Retail

Closing

Aug 25, 2025

AI

The transaction involves a retail asset located at 2178 Broadway, known as the Arthouse Hotel, situated in the Manhattan market. The property encompasses 6,000 square feet, tailored for a new leasing opportunity.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not disclosed
  • Address: 2178 Broadway (Arthouse Hotel)
  • Market: Manhattan
  • Landlord: Ben Ashkenazy - Ashkenazy Acquisitions
  • Tenant: Charlie Levy - Motek
  • Landlord's Representative: Carolina Aziz - KSR; Pablo Basora
  • Tenant's Representative: Jared Robins - InHouse Commercial

Motek, under the leadership of tenant Charlie Levy’s Happy Corner Hospitality, is set to establish a new location in the Arthouse Hotel. The establishment will feature a Mediterranean bistro with a menu inspired by traditional Eastern Mediterranean dishes. The venture is part of a broader expansion plan that includes at least five locations within New York City, with the brand also set to open another location in Flatiron this September.

Players

Carolina Aziz

Kassin Sabbagh Realty

Broker

$24.8M

vol

96 deals

Broker
Inhouse Commercial
Inhouse CommercialBrokerage

Ben Ashkenazy

Ashkenazy Acquisition

Landlord

$721.3M

vol

16 deals

Landlord
Ashkenazy Acquisition
Ashkenazy AcquisitionLandlord

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