Sandwich Shop Leases Retail Space On Upper West Side From Heller Realty
329 Amsterdam Avenue, Manhattan, New York, NY, USA
Building Size
1,000 SF
Asset Type
Retail
Closing
Sep 10, 2021
About this deal
AI
Located at 329 Amsterdam Ave. in the Upper West Side, this retail property was recently leased. The landlord, Heller Realty, secured a deal with the tenant, The Sandwich Shop. The leasing transaction was facilitated by brokers James Famularo, Ben Biberaj, and Andrew Ingber from Meridian Retail Leasing. The property offers 1,000 square feet of space and was leased at an asking rent of $150 per square foot.
Summary of transation details
- Property Type: Retail
- Transaction Amount: N/A
- Date: 09/10/2021
- Address: 329 Amsterdam Ave.
- Market: Upper West Side
- Landlord: Heller Realty
- Tenant: The Sandwich Shop
- Brokers: James Famularo, Ben Biberaj, and Andrew Ingber at Meridian Retail Leasing
- Asking Rent: $150/ft.
- Square Footage: 1,000
James Famularo, Ben Biberaj, and Andrew Ingber from Meridian Retail Leasing played instrumental roles as brokers in this leasing transaction. They successfully facilitated the deal between Heller Realty, the landlord, and The Sandwich Shop, the tenant, for the retail space located at 329 Amsterdam Ave. on the Upper West Side.
Players
New York Retail Market Snapshot
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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