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223 Mott Street, Manhattan,...

Icon Realty Leases Retail Space At 223 Mott St, NoLiTa, Manhattan To Candle.NYC For $300/ft
LEASEDRetail

Icon Realty Leases Retail Space At 223 Mott St, NoLiTa, Manhattan To Candle.NYC For $300/ft

223 Mott Street, Manhattan, New York, NY, USA

Building Size

400 SF

Asset Type

Retail

Closing

May 16, 2021

AI

The property asset involved in the lease transaction is located at 223 Mott St in the NoLiTa neighborhood of Manhattan. It is classified as a retail space with an asking rent of $300 per square foot for a total area of 400 square feet.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $300/ft.
  • Address: 223 Mott St
  • Market: NoLiTa, Manhattan
  • Square Footage: 400
  • Tenant: @Candle.NYC
  • Landlord: @IconRealty
  • Broker: Steven Bentolila - Oxford Property Group

Key individuals involved in the transaction include Steven Bentolila representing the broker agency Oxford Property Group, while the tenant is @Candle.NYC and the landlord is @IconRealty. The engagement highlights collaboration between different parties in securing the retail space.

Players

Steven Bentolila

Bento Property Group

Broker

$74.2M

vol

11 deals

Broker
Icon Realty Management
Icon Realty ManagementLandlord

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