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85 Delancey St New York, NY...

Conbud Leases Retail Space At 85 Delancey Street In Lower East Side
LEASEDRetail

Conbud Leases Retail Space At 85 Delancey Street In Lower East Side

85 Delancey St New York, NY 10002, USA

$200

$200/SF

Building Size

2,450 SF

Asset Type

Retail

Closing

Jun 8, 2023

AI

The retail property located at 85 Delancey Street in the Lower East Side has been leased. The tenant, Conbud, has signed a lease agreement with landlord Baruch Singer. The property spans 2,450 square feet and the asking rent was $200 per square foot.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Lease
  • Date: 06/08/2023
  • Address: 85 Delancey Street
  • Market: Lower East Side

Maddy Soffer, Carolina Aziz, and Ike Bibi from KSR represented the landlord, Baruch Singer, while Greg Tannor and Jessica Gerstein served as the tenant's representatives. The lease between the landlord and tenant was successfully negotiated.

Players

Ike Bibi

Kassin Sabbagh Realty

Broker

$274.3M

vol

125 deals

Broker

Baruch Singer

Landlord

$77M

vol

3 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

79315.00%

Cash-on-Cash

-22668.47%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93