Treasures Bakery Leases Retail Space On Broadway, Upper West Side For 10 Years
2394 Broadway
$162
$162/SF
Building Size
2,000 SF
Asset Type
Retail
Closing
Mar 27, 2024
AI
The retail property located at 2394 Broadway in the Upper West Side of Manhattan was leased to Treasures Bakery. The lease, facilitated by brokers Jeremy Banilevi, Cory Zelnik, and Jason Turner from Zelnik & Company, had an asking rent of $162 per square foot for a space measuring 2,000 square feet and a lease term of 10 years under a Modified Gross Lease agreement.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 2394 Broadway
- Market: Upper West Side, Manhattan
- Landlord: BLDG Management
- Tenant: Treasures Bakery
- Brokers: Jeremy Banilevi, Cory Zelnik, Jason Turner - Zelnik & Company
- Asking Rent: $162/ft
- Lease Type: Modified Gross Lease
- Lease Term: 10 years
Jeremy Banilevi, Cory Zelnik, and Jason Turner of Zelnik & Company played key roles in the lease transaction, representing the landlord, BLDG Management, and the tenant, Treasures Bakery, in securing a long-term lease for the retail space at 2394 Broadway. The assets involved in the deal showcase the vibrant commercial real estate activity in the bustling Upper West Side market of Manhattan.
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
97919.75%
Cash-on-Cash
-27985.77%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93