Taco Bell, Dunkin’ Donuts, And I Love NY Gifts Lease Space At 60 Fulton St., Financial District
60 Fulton Street, Manhattan, New York, NY, USA
Building Size
1,568 SF
Asset Type
Retail
Closing
Dec 31, 2018
AI
Taco Bell, Dunkin’ Donuts, and I ♥️ NY Gifts have signed a lease for retail space at 60 Fulton Street in the Financial District. The property, owned by The Parkland Group, managed by Gerald & Steven Brauser, is situated at the corner of Cliff and Fulton Street. The lease includes three separate spaces: Taco Bell with 1,568 square feet, Dunkin’ Donuts with 969 square feet, and I ♥ NY Gifts with 884 square feet. The asking rent for these spaces is $200 per square foot. The lease term is set for 10 years.
Summary of transaction details
- Property Type: Lease
- Date: 01/01/2019
- Address: 60 Fulton Street
- Market: Financial District
- Tenant: Taco Bell, Dunkin’ Donuts & I ♥ NY Gifts
- Landlord: The Parkland Group - Gerald & Steven Brauser
- Brokers: Heller Organization - Josh Singer, Adam Heller, & Scott Heller
- Asking Rent: $200/ft.
- Square Footage: 1,568 (Taco Bell), 969 (Dunkin’ Donuts), 884 (I ♥ NY Gifts)
- Term: 10 years
In addition to this lease, The Heller Organization, represented by Josh Singer, Adam Heller, and Scott Heller, also handled the residential leasing for the 120 luxury rental units above the retail spaces.
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