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248 Broome Street

Modern Bread And Bagels Leases Retail Space At 248 Broome Street New York For $228/SF
LEASEDRetail

Modern Bread And Bagels Leases Retail Space At 248 Broome Street New York For $228/SF

248 Broome Street

$228

$228/SF

Building Size

1,000 SF

Asset Type

Retail

Closing

Mar 10, 2025

AI

The property asset involved in the context is a retail space located at 248 Broome Street in New York. The lease is priced at $228 per square foot and covers an area of 1,000 square feet.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: 228
  • Address: 248 Broome Street
  • Market: New York
  • Square Feet: 1000.0
  • Tenant: Modern Bread and Bagels
  • Landlord: Samy Mahfar
  • Tenant's Representatives: Ben Biberaj (Meridian Capital Group), Desi Avidane (Meridian Capital Group)
  • Landlord's Representatives: Garrett Kelly (Meridian Capital Group), Noam Aziz (Meridian Capital Group)

In this transaction, Modern Bread and Bagels has secured a lease with landlord Samy Mahfar, supported by their representatives from Meridian Capital Group. The deal was facilitated by both the tenant's and landlord's representatives, Ben Biberaj, Desi Avidane, Garrett Kelly, and Noam Aziz, all of whom belong to Meridian Capital Group, indicating a collaborative effort within a single firm for this lease arrangement.

Players

Ben Biberaj

IPRG Retail Leasing

Broker

$26.2M

vol

192 deals

Broker

Samy Mahfar

Landlord

$295M

vol

10 deals

Landlord

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

69574.56%

Cash-on-Cash

-19884.62%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93