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24 East 23rd Street (One Ma...

Updated Oct 29, 2024

Dippin Dots & Doc Popcorn Lease Retail Space At 24 East 23rd Street In Flatiron District
LEASEDRetail

Dippin Dots & Doc Popcorn Lease Retail Space At 24 East 23rd Street In Flatiron District

24 East 23rd Street (One Madison) MARKET: Flatiron District

Building Size

367 SF

Asset Type

Retail

Closing

Feb 24, 2021

About this deal

AI

24 East 23rd Street in the Flatiron District of New York City has recently been leased. The retail space was leased to Dippin Dots & Doc Popcorn, with franchisee Neil Hershman representing the tenant. The landlord of the property is Rockfeld Group. The leasing transaction was facilitated by Jack Hurley of Isa Realty Group, who represented the tenant, and Ike Bibi and Jack Khaski of KSR, who represented the landlord. The property is located in a prime location in the Flatiron District and offers great potential for retail businesses.

Summary of transaction details:

  • Property Type: Retail
  • Date: 02/25/2021
  • Address: 24 East 23rd Street (One Madison)
  • Market: Flatiron District
  • Tenant: Dippin Dots & Doc Popcorn (Franchisee Neil Hershman)
  • Landlord: Rockfeld Group
  • Tenant's Rep: Jack Hurley - Isa Realty Group
  • Landlord's Rep: Ike Bibi & Jack Khaski - KSR
  • Asking Rent: $400/ft.
  • Square Footage: 367

The deal was completed with an asking rent of $400 per square foot for a total of 367 square feet of retail space in the prime location of the Flatiron District. Dippin Dots & Doc Popcorn, represented by franchisee Neil Hershman and Jack Hurley of Isa Realty Group, saw the potential of the space and decided to lease it. Rockfeld Group, the landlord, was represented by Ike Bibi and Jack Khaski of KSR, who ensured a smooth transaction for both parties involved.

On the Map

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Retail

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Players

Ike Bibi

Kassin Sabbagh Realty

Broker

$274.3M

vol

129 deals

Broker
RG
Rockfeld GroupLandlord
Bilt advertisement

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

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