Wanpo Tea Shop Signs 10-Year Lease At 37 East 8th Street In New York University Market With Broker Jeff Zheng
37 East 8th Street, Brooklyn, New York 11230, United States
Building Size
1,500 SF
Asset Type
Retail
Closing
Jul 31, 2021
AI
The retail space located at 37 East 8th Street in the New York University market has been leased by Wanpo Tea Shop. The lease agreement, facilitated by broker Jeff Zheng from Empire Realty Trust, has a term of 10 years. The property spans 1,500 square feet and the asking rent is $130 per square foot.
Summary of transaction details
- Property Type: Retail
- Asking Rent: $130/ft.
- Square Footage: 1,500
- Address: 37 East 8th Street
- Market: New York University
Jeff Zheng from Empire Realty Trust represented the landlord in this lease agreement.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93