Panera Leases Retail Space At 2333 Broadway In New York With Ripco Real Estate And Meridian Retail Leasing
2333 Broadway, New York City, New York 10024, United States
Building Size
2,500 SF
Asset Type
Retail
Closing
Jun 6, 2022
AI
2333 Broadway, located in New York, was recently leased in a transaction overseen by Sam Martorella, Ben Biberaj, and Andrew Mandell. The property, classified as a retail space, has an asking rent of $250 per square foot for a total of 2,500 square feet.
Summary of transaction details
- Property Type: Retail
- Asking Rent: $250/ft.
- Size: 2,500 square feet
- Date: 06/07/2022
- Tenant: Panera
- Tenant's Rep: Sam Martorella & Andrew Mandell - Ripco Real Estate
- Landlord's Rep: Ben Biberaj - Meridian Retail Leasing
The leasing deal was facilitated by Sam Martorella and Andrew Mandell, who represented Panera, and Ben Biberaj, who represented the landlord, Meridian Retail Leasing. It is notable that this transaction involved a popular retail tenant, Panera, agreeing to lease the space at 2333 Broadway. The leasing terms include an asking rent of $250 per square foot, with a total area of 2,500 square feet.
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