Vesuvio Bakery Leases Retail Space On 824 Tenth Avenue In Hell's Kitchen With Broker James Famularo
824 10th Avenue, New York, NY 10019, USA
Building Size
3,100 SF
Asset Type
Retail
Closing
Sep 17, 2021
About this deal
AI
824 Tenth Avenue, located in Hell's Kitchen, has recently been leased. The retail property, spanning 3,100 square feet, was leased by Vesuvio Bakery. The deal was facilitated by broker James Famularo from Meridian Retail Leasing. The asking rent for the space was $116 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Lease
- Date: 09/17/2021
- Address: 824 Tenth Avenue, Hell's Kitchen
- Tenant: Vesuvio Bakery
- Broker: James Famularo - Meridian Retail Leasing
- Asking Rent: $116/ft.
- Square Footage: 3,100
The lease transaction for 824 Tenth Avenue was successfully closed with Vesuvio Bakery taking over the retail space. James Famularo, acting as the broker from Meridian Retail Leasing, played a crucial role in facilitating the deal. With an asking rent of $116 per square foot, this lease reinforces the strong demand for retail space in Hell's Kitchen.
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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