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Mott Street, Manhattan, New...

Updated Oct 29, 2024

Two Hands Corndogs Leases Retail Space At 250 Mott Street In NoLiTa
LEASEDRetail

Two Hands Corndogs Leases Retail Space At 250 Mott Street In NoLiTa

Mott Street, Manhattan, New York, NY, USA

Building Size

450 SF

Asset Type

Retail

Closing

Mar 29, 2021

About this deal

AI

A retail space located at 250 Mott Street in the NoLiTa neighborhood has been leased on March 30, 2021. The property was leased to @TwoHands.Corndogs, with the landlord being Steve Croman. The leasing deal was facilitated by James Famularo, Ben Biberaj, and Jake Wilcox of Meridian Retail Leasing. The asking rent for the space was $250 per square foot, with a total square footage of 450.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Date: 03/30/2021
  • Address: 250 Mott Street
  • Market: NoLiTa
  • Tenant: @TwoHands.Corndogs
  • Landlord: Steve Croman
  • Brokers: James Famularo, Ben Biberaj & Jake Wilcox - Meridian Retail Leasing
  • Asking Rent: $250/ft.
  • Square Footage: 450

Ben Biberaj, James Famularo, and Jake Wilcox from Meridian Retail Leasing played a significant role in representing the tenant and landlord in this lease deal. Their expertise and negotiation skills facilitated the transaction, ensuring a successful agreement for both parties involved.

Players

Ben Biberaj

IPRG Retail Leasing

Broker

$26.2M

vol

204 deals

Broker
Steve Croman

Steve Croman

Centennial Properties

Landlord

$50.1M

vol

40 deals

Landlord

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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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