Donnie D’Alessio's Comfortland Signs 10-Year Lease At 92 Rivington Street With Joseph Sitt
92 Rivington Street
Building Size
1,200 SF
Asset Type
Retail
Closing
Jun 6, 2025
AI
The asset is a retail property located at 92 Rivington Street in the Lower East Side market, featuring a total square footage of 1,200. The tenant is Comfortland, which is set to open its first Manhattan location at this address following a yearlong delay.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Lease Term: 10-year lease
- Landlord: Joseph Sitt - Thor Equities
- Tenant: Donnie D’Alessio - Comfortland
- Broker: Thomas Galo - RTL Real Estate
This transaction marks a significant step for Comfortland, previously based in Astoria, as they expand their operations into Manhattan. The deal was facilitated by broker Thomas Galo of RTL Real Estate, representing the landlord Thor Equities in the leasing process.
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