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
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