Robert Jaffe Leases Retail Space To Luke's Lobster At 228 Bleecker Street In West Village
228 Bleecker Street
$250
$250/SF
Building Size
650 SF
Asset Type
Retail
Closing
Dec 9, 2024
About this deal
AI
The retail asset located at 228 Bleecker Street in the West Village is currently leased at an asking rent of $250 per square foot, with a total space of 650 square feet. The lease type is a Modified Gross Lease.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $250/ft
- Lease Type: Modified Gross Lease
- Landlord: Robert Jaffe
- Tenant: Luke's Lobster
- Landlord's Rep: Ben Biberaj & Cameron Parson - Meridian Capital Group
- Tenant's Rep: JP Pirraglia & Dillon Ross - Ripco
This transaction involved key representatives from both sides. Ben Biberaj and Cameron Parson represented the landlord, while JP Pirraglia and Dillon Ross represented the tenant, Luke's Lobster. Their involvement highlights the collaborative nature of the leasing process in commercial real estate.
On the Map
$250
$250/SF
Retail
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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
63452.00%
Cash-on-Cash
-18134.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93