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7 Pennsylvania Plaza

Adam Goldberg Of PopUp Bagels Leases 1500 Square Foot Retail Space At 7 Pennsylvania Plaza
LEASEDRetail

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:

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

Andrew Wiener

The Feil Organization

Broker

33 deals

Broker

Jeffrey J. Feil

The Feil Organization

Landlord

$51.5M

vol

6 deals

Landlord

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