Arcane Coffee Leases Retail Space At 37 Cornelia St. In West Village, Manhattan
37 Cornelia Street
$250
$250/SF
Building Size
500 SF
Asset Type
Retail
Closing
Jun 1, 2024
AI
Located at 37 Cornelia Street in the West Village of Manhattan, the retail space involved in this lease transaction features a total square footage of 500. The retail lease was secured for an asking rent of $250 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Landlord: Steve Croman
- Tenant: Arcane Coffee
- Landlord's Representative: Ben Biberaj & Cameron Parson - Meridian Capital Group
- Tenant's Representative: Bob Juergens - Corbett & Dullea Real Estate
Representing the parties involved in this lease deal are Ben Biberaj and Cameron Parson from Meridian Capital Group, acting as the landlord's representatives. On the tenant's side, Bob Juergens from Corbett & Dullea Real Estate negotiated on behalf of Arcane Coffee to secure the retail lease at the West Village location.
Players
New York Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
63452.00%
Cash-on-Cash
-18134.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93