Coco Pazzo Leases Retail Space At 307 Spring Street In SoHo
307 Spring St,SoHo
Building Size
2,500 SF
Asset Type
Retail
Closing
Sep 17, 2020
About this deal
AI
Located in the bustling neighborhood of SoHo, this retail property at 307 Spring Street has recently been leased. The deal was finalized on September 18, 2020, with Coco Pazzo securing the lease. The property, offered by D&D Realty Company, was represented by James Famularo from @Meridian.Capital.Group. Spanning across 2,500 square feet, the retail space was leased at a rate of $120 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Date: 09/18/2020
- Address: 307 Spring Street
- Market: SoHo
- Tenant: Coco Pazzo
- Landlord: D&D Realty Company
- Broker: James Famularo - @Meridian.Capital.Group
- Asking Rent: $120 per square foot
- Total Square Footage: 2,500
This lease deal showcases the collaboration between Coco Pazzo and D&D Realty Company, facilitated by James Famularo from @Meridian.Capital.Group. The vibrant neighborhood of SoHo adds to the allure of this retail space, making it an ideal location for Coco Pazzo's business.
Players
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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