Pastafina Pizza Signs Lease For Retail Space At 347 3rd Avenue In Kips Bay
347 3rd Avenue, Manhattan, New York, NY, USA
Building Size
750 SF
Asset Type
Retail
Closing
Nov 14, 2020
About this deal
AI
347 3rd Avenue, located in the Kips Bay market, has been leased for retail use. The property was leased to Pastafina Pizza by landlord Empire Management NYC. The lease deal was brokered by Michael Segerman of Dynamik Real Estate Group, representing the tenant. The lease transaction took place on November 15, 2020. The retail space spans approximately 750 square feet and the asking rent was $144 per square foot.
Summary of transaction details
- Property Type: Retail
- Address: 347 3rd Avenue
- Market: Kips Bay
- Tenant: Pastafina Pizza
- Landlord: Empire Management NYC
- Broker: Michael Segerman - Dynamik Real Estate Group
- Lease Date: November 15, 2020
- Asking Rent: $144 per square foot
- Square Footage: 750
The deal involved the lease of a retail space at 347 3rd Avenue. Pastafina Pizza will operate their business at this location as the new tenant. Empire Management NYC, the landlord, facilitated the lease agreement. Michael Segerman of Dynamik Real Estate Group represented Pastafina Pizza in the deal as their broker.
Players
New York Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
Loading comparables…
Deal FAQ
Browse New York retail leases on Traded.
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