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Dim Sum Palace Signs 15-Year Lease For East Village Location With Icon Realty Management

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LEASED
Terrence Lowenberg

New York

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Retail2,050 SF
Leased 07/24/2018
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Property Image
LEASED

Dim Sum Palace Signs 15-Year Lease For East Village Location With Icon Realty Management

59 2nd Avenue, New York, NY 10003

See Similar Deals
Retail2,050 SF
Leased 07/24/2018
Terrence Lowenberg
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Summary

NEW YORK
Asset Type:Retail
Total Square Footage:2,050 SF
Transaction Type:Lease

The Dim Sum Palace, a made-to-order Dim Sum restaurant, has signed a 15-year lease for their third Manhattan location in the East Village. The restaurant will be located at 59 2nd Avenue, a retail space managed by Icon Realty Management. The lease was facilitated by David Green, who represented both the tenant and the landlord.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Date: 07/24/2018
  • Address: 59 2nd Avenue, East Village, New York
  • Tenant: Dim Sum Palace
  • Landlord: Icon Realty Management
  • Tenant's Broker: David Green
  • Landlord's Broker: David Green
  • Asking Rent: $150/ft.
  • Square Footage: 2,050

This lease transaction represents the continued expansion of Dim Sum Palace in Manhattan, adding to their existing locations in the city. The deal was successfully negotiated by David Green, who represented both the tenant and the landlord, Terrence Lowenberg and Todd Cohen of Icon Realty Management.

Players

David Green
176 deals$447M volume(516) 320-0260
BROKER

Terrence Lowenberg
Icon Realty Management
16 deals$301.7M volume
LANDLORD


TENANT

Details

LEASED
IMAGE: Terrence Lowenberg, David Green and Todd Cohen DATE: 07/24/2018 ADDRESS: 59 2nd Avenue MARKET: East Village, New York ASSET TYPE: Retail TENANT: Dim Sum Palace LANDLORD: Icon Realty Management (Terrence Lowenberg, Todd Cohen) TENANT’S BROKER: David Green LANDLORD’S BROKER: David Green ASKING RENT: $150/ft. ~ SF: 2,050 NOTES: @thedimsumplace, the made to order Dim Sum restaurant has signed a 15-year lease in the East Village for the company’s 3rd Manhattan location.

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Deal Type
Effective Rent (Annual)

$117,504.76

Total Lease Value

$1,175,047.63

Net Landlord Cash Flow$117,504.76