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59 Reade Street, Manhattan,...

Barrow St. Ale House Leases Retail Space At 59 Reade Street In TriBeCa With Tenant's Rep Louis Posner & Landlord's Rep John Roesch & James Famularo - Feldman Realty And Oxford Property Group
LEASEDRetail

Barrow St. Ale House Leases Retail Space At 59 Reade Street In TriBeCa With Tenant's Rep Louis Posner & Landlord's Rep John Roesch & James Famularo - Feldman Realty And Oxford Property Group

59 Reade Street, Manhattan, New York, NY, USA

Building Size

3,000 SF

Asset Type

Retail

Closing

Mar 26, 2021

AI

The retail property located at 59 Reade Street in TriBeCa has been leased. The asset spans a total area of 3,000 square feet. The tenant, Barrow St. Ale House, will be occupying the space. The landlord of the property is Feldman Realty. The asking rent for the lease was $120 per square foot.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Leased
  • Address: 59 Reade Street
  • Market: TriBeCa

Representing the tenant, Barrow St. Ale House, is Louis Posner from Oxford Property Group. On the other hand, John Roesch & James Famularo from Meridian Capital Group acted as the landlord's representatives in the deal.

Players

John Roesch

Meridian Capital Group

Broker

97 deals

Broker
FR
Feldman RealtyLandlord

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