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60 E 12th St, New York, NY,...

Bite Food & Coffee Co Leases 1700 Square Feet At 60 E 12th St New York
LEASEDRetail

Bite Food & Coffee Co Leases 1700 Square Feet At 60 E 12th St New York

60 E 12th St, New York, NY, 10003

Building Size

1,700 SF

Asset Type

Retail

Closing

Nov 20, 2023

AI

A ground-floor lease has been executed for a space measuring 1,700 square feet located at 60 E 12th St, New York, NY, 10003. The market for this transaction is New York. The property is set to house the first location of Bite Food & Coffee Co. in New York City.

Summary of transaction details:

Mark Kapnick and Michael Watson from Lee & Associates represented Bite Food & Coffee Co. in this transaction. The lease spans 10 years, with the landlord, Heller Organization, being represented by Greg Goldberg from Meridian Capital Group. The new eatery is expected to open on April 1, providing a breakfast and lunch option near the campuses of New York University and The New School.

Players

Greg Goldberg

Meridian Capital Group

Broker

$4.3M

vol

72 deals

Broker
The Heller Organization
The Heller OrganizationBrokerage
The Heller Organization
The Heller OrganizationLandlord

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