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384 Broome Street, New York...

Zutto Ramen II Leases Retail Space In Little Italy From Dalan Management
LEASEDRetail

Zutto Ramen II Leases Retail Space In Little Italy From Dalan Management

384 Broome Street, New York, NY, USA

Building Size

1,420 SF

Asset Type

Retail

Closing

Aug 20, 2021

AI

A commercial lease transaction has taken place at 384 Broome Street in Little Italy, New York City. The retail space, measuring 1,420 square feet, has been leased to Zutto Ramen II, a prominent Japanese restaurant. The lease was facilitated by Avenue Realty Advisors (ARA), a commercial leasing firm specializing in dual representation of both landlords and tenants in the 5 Boroughs. The landlord, Dalan Management, was represented by Jeff Angel & Cara Santamaria from RES Commercial Corp.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: N/A
  • Asking Rent: $127/ft.
  • Square Footage: 1,420
  • Address: 384 Broome Street, Little Italy
  • Market: Little Italy

Zutto Ramen II, represented by ARA, has opened its second location in Manhattan with this lease. The tenant's representatives, Aaron Aziz and James Bullaro from ARA, played a key role in finalizing the transaction. Special thanks were extended to Jeff Angel and Cara Santamaria, who represented the landlord, for their professional and efficient assistance. For those seeking commercial leasing opportunities or looking to lease vacant spaces, they can reach out to the leasing specialists from ARA.

Players

Aaron Aziz

ARA

Broker

47 deals

Broker
Dalan Management
Dalan ManagementLandlord

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