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248 Mott Street

Warkop USA LLC Leases Retail Space In New York's Mott St. Building
LEASEDRetail

Warkop USA LLC Leases Retail Space In New York's Mott St. Building

248 Mott Street

$200

$200/SF

Building Size

450 SF

Asset Type

Retail

Closing

May 18, 2022

AI

The retail space located at 248 Mott St. in New York has been leased in a closed transaction. The property is owned by Steven Croman and the tenant is Warkop USA LLC. The lease was facilitated by Alex Imperatore from Meridian Retail Leasing, who represents the tenant, and Ben Biberaj and Elliot Wygoda from Meridian Retail Leasing, who represent the landlord. The leasing deal was finalized on 05/18/2022.

Summary of transaction details

  • Property Type: Retail
  • Asking Rent: $200/ft.
  • SF: 450

Alex Imperatore from Meridian Retail Leasing played a crucial role in representing the tenant, Warkop USA LLC, in securing this lease. Ben Biberaj and Elliot Wygoda, also from Meridian Retail Leasing, represented the landlord, Steven Croman, in this transaction. The deal highlights the successful collaboration between the involved parties in finalizing the lease agreement for the retail space on Mott St. in New York.

Players

Ben Biberaj

IPRG Retail Leasing

Broker

$26.2M

vol

192 deals

Broker
Steve Croman

Steve Croman

Centennial Properties

Landlord

$50.1M

vol

40 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

79315.00%

Cash-on-Cash

-22668.47%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93