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63 Reade Street

Updated Dec 4, 2024

Titan Group Negotiates Cafe Shop & Bagels Lease At 63 Reade Street, Tribeca
LEASEDRetail

Titan Group Negotiates Cafe Shop & Bagels Lease At 63 Reade Street, Tribeca

63 Reade Street

$120

$120/SF

Building Size

1,000 SF

Asset Type

Retail

Closing

Nov 15, 2023

About this deal

AI

63 Reade Street in Tribeca, Manhattan, was leased for a retail space with an asking rent of $120 per square foot for a 1,000 square foot area. The landlord, Feldman Realty, leased the property to the tenant, Cafe Shop & Bagels. The deal was facilitated by brokers Tyler Zar, Tanner Zar, and Adam Lavian from Titan Group New York.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Address: 63 Reade Street, Tribeca, Manhattan
  • Market: Tribeca, Manhattan
  • Asset Type: Retail
  • Landlord: Feldman Realty
  • Tenant: Cafe Shop & Bagels
  • Brokers: Tyler Zar, Tanner Zar, & Adam Lavian - Titan Group New York
  • Asking Rent: $120/ft
  • Lease Type: Ground Lease

The tenant, Cafe Shop & Bagels, will be introducing a delightful range of new bagels and breakfast options to the vibrant neighborhood of Tribeca. Nala's Bagels, as it will be known, aims to bring a mix of New York-style bagels to the local community, providing a flavorful and creative start to the day. With a menu focusing on quality and innovation, Nala's Bagels aspires to be a beloved breakfast spot offering a culinary experience that reflects passion and excellence.

Players

Adam Lavian

Titan Group New York

Broker

59 deals

Broker
FR
Feldman RealtyLandlord

New York Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

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Deal FAQ

About $120 per square foot on a published $120 for 1,000 square feet (2023).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

132191.67%

Cash-on-Cash

-37780.78%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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