Mezeh Mediterranean Grill Leases Retail Space In Flatiron District
900 Broadway, Manhattan, New York, NY, USA
Building Size
4,500 SF
Asset Type
Retail
Closing
May 31, 2021
About this deal
AI
A retail property located at 900 Broadway in the Flatiron District has recently been leased. The property, measuring 4,500 square feet on the ground floor and 3,000 square feet on the lower level, was leased by Mezeh Mediterranean Grill.
Summary of transaction details
- Property Type: Retail
- Asking Rent: $220 per square foot
- Address: 900 Broadway
- Market: Flatiron District
Justin Management, the landlord, represented by Matthew DeRose and William Janetschek of @NomadGroup.IO, entered into the lease agreement with Mezeh Mediterranean Grill. On behalf of the tenant, Michael Azarian of @CushWake acted as the tenant's representative.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93