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248 Mott Street

Maison Breya Leases Retail Space At 248 Mott Street From Landlord Steven Croman
LEASEDRetail

Maison Breya Leases Retail Space At 248 Mott Street From Landlord Steven Croman

248 Mott Street

$250

$250/SF

Building Size

450 SF

Asset Type

Retail

Closing

Feb 19, 2025

AI

The transaction involves a retail space located at 248 Mott Street in the Nolita market. The asset is leased under a Modified Gross Lease type, and the asking rent is set at $250 per square foot for a total area of 450 square feet.

Summary of transaction details:

The brokers involved in this transaction, representing the landlord and tenant, are Elliot Wygoda, Ben Biberaj, Cameron Parson, and Nick Hanna from Meridian Capital Group. Their expertise facilitated the lease agreement between Steven Croman and the tenant, Maison Breya.

Players

Ben Biberaj

IPRG Retail Leasing

Broker

$26.2M

vol

197 deals

Broker

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

63452.00%

Cash-on-Cash

-18134.78%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93