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
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