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65 Exchange Pl New York, NY...

Los Tacos No. 1 Leases Retail Space At 65 Exchange Place In New York
LEASEDRetail

Los Tacos No. 1 Leases Retail Space At 65 Exchange Place In New York

65 Exchange Pl New York, NY 10005, USA

$200

$200/SF

Building Size

3,009 SF

Asset Type

Retail

Closing

May 1, 2023

AI

The retail property located at 65 Exchange Place in New York has been leased in a closed transaction. The landlord, Metro Loft Management, has entered into a lease agreement with the tenant, Los Tacos No. 1. The lease was facilitated by brokers Andrew Stern, Neal Ohm, Brandon Eisenman, and Michael Cohen from Newmark. The property has a total square footage of 3,009 and an asking rent of $200 per square foot.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Lease
  • Date: 05/01/2023
  • Address: 65 Exchange Place, New York
  • Market: New York
  • Landlord: Metro Loft Management
  • Tenant: Los Tacos No. 1
  • Brokers: Andrew Stern, Neal Ohm, Brandon Eisenman, and Michael Cohen - Newmark
  • Asking Rent: $200/ft
  • Total Square Footage: 3,009

The lease transaction for the retail property at 65 Exchange Place was successfully negotiated by the brokers from Newmark, including Andrew Stern, Neal Ohm, Brandon Eisenman, and Michael Cohen. Los Tacos No. 1 will now occupy the space under the management of Metro Loft Management. This lease deal highlights the vibrant retail market in New York.

Players

Andrew Stern

Newmark

Broker

$5.4M

vol

76 deals

Broker
MM
Metro Loft ManagementLandlord

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

79315.00%

Cash-on-Cash

-22668.47%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93