Adam Goldberg Of PopUp Bagels Leases 1500 Square Foot Retail Space At 7 Pennsylvania Plaza
7 Pennsylvania Plaza
Building Size
1,500 SF
Asset Type
Retail
Closing
Mar 11, 2025
AI
The asset involved is a retail property located at 7 Pennsylvania Plaza in the Manhattan market, encompassing a total of 1,500 square feet. The lease arrangement is for a flagship location of PopUp Bagels, which is set to open in April 2025.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 7 Pennsylvania Plaza
- Market: Manhattan
- Size: 1,500 SF
- Landlord: Jeffrey J. Feil - Feil Organization
- Tenant: Adam Goldberg - PopUp Bagels
- Landlord's Representative: Andrew Wiener, Jordan Goldblum & Randall Briskin - The Feil Organization
- Tenant's Representative: Brian Rovell - BGR Ventures
This leasing agreement signifies an expansion for PopUp Bagels, which is adding four new locations throughout New York City. In addition to the flagship at 7 Penn Plaza, the chain has also secured leasing agreements in Williamsburg, Tribeca, and Midtown, raising its total to seven locations across the city.
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