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2333 Broadway, New York Cit...

Panera Leases Retail Space At 2333 Broadway In New York With Ripco Real Estate And Meridian Retail Leasing
LEASEDRetail

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

Ben Biberaj

IPRG Retail Leasing

Broker

$26.2M

vol

197 deals

Broker

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