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601 East Tremont Avenue

Pizza Hut Leases Retail Space In New York City Building
LEASEDRetail

Pizza Hut Leases Retail Space In New York City Building

601 East Tremont Avenue

$75

$75/SF

Building Size

1,500 SF

Asset Type

Retail

Closing

Feb 27, 2023

AI

The retail property at 601 East Tremont Avenue in New York City has been leased. The tenant, Pizza Hut, will occupy a space measuring 1,500 square feet. The landlord, Primrock Real Estate, facilitated the deal through their broker, Bruce Herman of Booth Street. The lease was signed for an asking rent of $75 per square foot.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Leased
  • Address: 601 East Tremont Avenue
  • Tenant: Pizza Hut
  • Landlord: Primrock Real Estate
  • Tenant's Broker: Bruce Herman - Booth Street
  • Asking Rent: $75 per square foot
  • Square Footage: 1,500
  • Market: New York City

This transaction highlights the collaboration between Pizza Hut, Primrock Real Estate, and Bruce Herman of Booth Street. The leasing of this retail space demonstrates the ongoing activity and demand in the New York City market.

Players

Bruce Herman

Booth Street

Broker

$41.1M

vol

22 deals

Broker
Pizza Hut
Pizza HutTenant

Market 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

211506.67%

Cash-on-Cash

-60449.25%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93