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
New York Retail Market Snapshot
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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