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
New York Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
Loading comparables…
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