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:
- Property Type: Lease
- Transaction Amount: Not specified
- Square Feet: 1700
- Address: 60 E 12th St, New York, NY, 10003
- Market: New York
- Tenant's Representative: Mark Kapnick, Lee & Associates
- Landlord's Representative: Greg Goldberg, Meridian Capital Group
- Tenant: Bite Food & Coffee Co
- Landlord: Heller Organization
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
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