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56 West 22nd Street

Grandma's Home Restaurant Group Leases Retail Space At 56 West 22nd Street In New York City
LEASEDRetail

Grandma's Home Restaurant Group Leases Retail Space At 56 West 22nd Street In New York City

56 West 22nd Street

$135

$135/SF

Building Size

3,400 SF

Asset Type

Retail

Closing

Dec 21, 2022

AI

The retail property located at 56 West 22nd Street in New York City has been leased. The property covers an area of 3,400 square feet. The leasing deal was facilitated by James Famularo and Evan Roteman of Meridian Capital Group, who represented the landlord, and Michael Azarian of Cushman & Wakefield, who served as the broker.

Summary of transaction details

The lease deal for the retail property on 56 West 22nd Street was successfully negotiated, with Grandma's Home Restaurant Group becoming the new tenant. James Famularo and Evan Roteman from Meridian Capital Group represented the landlord in the deal, while Michael Azarian from Cushman & Wakefield acted as the broker. This transaction marks another successful partnership between these industry professionals.

Players

James Famularo

Meridian Capital Group

Broker

$11.4M

vol

362 deals

Broker

New York City 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

117503.70%

Cash-on-Cash

-33582.92%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93