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99 Third Avenue, Manhattan,...

Cutlets Sandwich Co Leases Retail Space At 99 Third Avenue In Union Square
LEASEDRetail

Cutlets Sandwich Co Leases Retail Space At 99 Third Avenue In Union Square

99 Third Avenue, Manhattan, New York, NY, USA

Building Size

2,200 SF

Asset Type

Retail

Closing

Mar 24, 2021

AI

Located at 99 Third Avenue in Union Square, this retail property has recently been leased. The asset spans a total of 2,200 square feet and is situated in a prime market location.

Summary of transaction details:

The tenant, Cutlets Sandwich Co, has secured a lease agreement with the landlord, Centennial Properties. Representing the tenant in the deal were Matthew DeRose and William Janetschek from Nomad Group, while Clayton Traynham and James Famularo from Meridian Capital Group acted as the landlord's representatives. This transaction marks a successful collaboration between the tenant, landlord, and their respective representatives.

Players

Clayton Traynham

Rhino Realty Group

Broker

9 deals

Broker
Matthew DeRose
Verified Badge

Matthew DeRose

Nomad Group

Broker

35 deals

Broker
Centennial Properties
Centennial PropertiesLandlord

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