Brooklyn ChopHouse Leases Retail Space In Times Square From Friedland Properties For $1.4M/year
LEASED
New York
See Similar DealsRetail25,000 SF
Leased 05/12/2021
LEASED
Brooklyn ChopHouse Leases Retail Space In Times Square From Friedland Properties For $1.4M/year
253 West 47th Street, New York, NY 10036
See Similar DealsRetail25,000 SF
Leased 05/12/2021
Summary
NEW YORK
Asset Type:Retail
Total Square Footage:25,000 SF
Transaction Type:Lease
Brooklyn ChopHouse has signed a lease for a retail space located at 253 West 47th Street in Times Square. The property, spanning 25,000 square feet, was leased for an asking rent of $56 per square foot, amounting to $1.4 million per year. The lease transaction was finalized on May 12, 2021.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $1.4 million per year
- Address: 253 West 47th Street
- Market: Times Square
Brooklyn ChopHouse's lease was facilitated by James Famularo of Meridian Retail Leasing, representing the tenant, which includes Robert “Don Pooh” Cummins and Stratis Morfogen. The landlord, Friedland Properties, represented by William Friedland, agreed to the lease agreement.
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Deal Type
NNN (Triple Net)
Effective Rent (Annual)
$1,432,984.91
Total Lease Value
$14,329,849.14
Net Landlord Cash Flow$1,432,984.91
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