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88 W Broadway New York, NY ...

Updated Oct 29, 2024

Green Guys Convenience Corp Leases Retail Space At 88 West Broadway In New York City
LEASEDRetail

Green Guys Convenience Corp Leases Retail Space At 88 West Broadway In New York City

88 W Broadway New York, NY 10007, USA

$165

$165/SF

Building Size

1,450 SF

Asset Type

Retail

Closing

Jun 2, 2023

About this deal

AI

The retail property located at 88 West Broadway in New York City has been leased. The property, owned by 6R Tribeca Owner, will now be occupied by Green Guys Convenience Corp. The lease transaction was facilitated by Andrew Stern of Newmark, representing the landlord, and Ben Biberaj and Elliot Wygoda of Meridian Capital Group, representing the tenant.

Summary of Transaction Details

  • Property Type: Retail
  • Address: 88 West Broadway, New York City
  • Market: New York City
  • Landlord: 6R Tribeca Owner
  • Tenant: Green Guys Convenience Corp.
  • Landlord's Representative: Andrew Stern - Newmark
  • Tenant's Representatives: Ben Biberaj & Elliot Wygoda - Meridian Capital Group
  • Asking Rent: $165/ft
  • SF: 1,450

This lease deal indicates the successful collaboration between the landlord, 6R Tribeca Owner, and the tenant, Green Guys Convenience Corp. Andrew Stern of Newmark played a crucial role as the landlord's representative in negotiating and finalizing the lease agreement. On the tenant's side, Ben Biberaj and Elliot Wygoda from Meridian Capital Group diligently represented and advocated for Green Guys Convenience Corp. throughout the leasing process. This transaction showcases the expertise and professionalism of these industry professionals in securing a mutually beneficial lease agreement.

Players

Andrew Stern

Newmark

Broker

$5.4M

vol

80 deals

Broker

New York Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

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Deal FAQ

About $165 per square foot on a published $165 for 1,450 square feet (2023).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

96139.39%

Cash-on-Cash

-27476.93%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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