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
- Property Type: Retail
- Asking Rent: $135/ft
- Square Footage: 3,400
- Date: 12/21/2022
- Tenant: Grandma's Home Restaurant Group
- Landlord's Rep: James Famularo & Evan Roteman - Meridian Capital Group
- Broker: Michael Azarian - Cushman & Wakefield
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
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