Potbelly Sandwich Shop Signs Retail Lease At 740 Broadway New York With Richard Bailey As Tenant's Rep
740 Broadway
$200
$200/SF
Building Size
1,500 SF
Asset Type
Retail
Closing
Jun 7, 2024
AI
The retail asset involved in this transaction is located at 740 Broadway in Noho, Manhattan, with an asking rent of $200 per square foot. The total square footage of the space is 1,500. The landlord is GFP Real Estate (GFPRE), and the tenant is Potbelly Sandwich Shop.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $300,000
- Address: 740 Broadway
- Market: Noho, Manhattan
- Lease Type: Retail Lease
- Landlord: GFP Real Estate (GFPRE)
- Tenant: Potbelly Sandwich Shop
- Landlord's Representative: William Chaplin & Ross Kaplan - Newmark
- Tenant's Representative: Richard Bailey - RJB Real Estate
Wililam Chaplin and Ross Kaplan of Newmark represented GFP Real Estate, while Richard Bailey from RJB Real Estate represented Potbelly Sandwich Shop in the leasing transaction, where Potbelly is also exploring additional locations.
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
79315.00%
Cash-on-Cash
-22668.47%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93