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37 Cornelia Street

Arcane Coffee Leases Retail Space At 37 Cornelia St. In West Village, Manhattan
LEASEDRetail

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:

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

Ben Biberaj

IPRG Retail Leasing

Broker

$26.2M

vol

197 deals

Broker

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