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
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