Westfield's Alex Solomon Leases Retail Space To Potbelly Sandwich Shop At 2 Dey Street
2 Dey Street
$120
$120/SF
Building Size
1,678 SF
Asset Type
Retail
Closing
Jul 18, 2024
About this deal
AI
The transaction involves a retail lease at 2 Dey Street in Manhattan. The property has a total square footage of 1,678, with an asking rent of $120 per square foot. The lease is categorized as a ground lease.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Landlord: Westfield - Alex Solomon
- Tenant: Potbelly Sandwich Shop
- Broker: Richard Bailey - RJB Real Estate
- Lease Type: Ground Lease
- Date: 07/18/2024
Richard Bailey of RJB Real Estaterepresents the landlord in this transaction. He has expressed excitement about the signing of the lease with Potbelly Sandwich Shop, indicating the tenant's growth and search for more space in the market.
On the Map
$120
$120/SF
Retail
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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
132191.67%
Cash-on-Cash
-37780.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93