Mulberry Pizza Leases Retail Space At 174 Hester Street From Penn South Capital For 10 Years
LEASED
$150
New York
See Similar DealsRetail1,350 SF
Leased 10/01/2024
LEASED
Mulberry Pizza Leases Retail Space At 174 Hester Street From Penn South Capital For 10 Years
174 Hester Street
See Similar DealsRetail1,350 SF
Leased 10/01/2024
Summary
NEW YORK
Asset Type:Retail
Price Per Square Foot:$150
Total Square Footage:1,350 SF
Transaction Type:Lease
The property asset involved in this transaction is located at 174 Hester Street in the Nolita market. It is a retail space measuring 1,350 square feet, with an asking rent of $150 per square foot. The lease term is set for 10 years and operates under a modified gross lease structure.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $150/ft
- Lease Term: 10 Years
- Lease Type: Modified Gross Lease
- Landlord: Penn South Capital
- Tenant: Mulberry Pizza
- Brokers: Andrew Stern, Ravi Idnani & Julia Singer - Newmark
The individuals representing the landlords and tenants in this transaction include Andrew Stern, Ravi Idnani, and Julia Singer from Newmark, who facilitated the lease agreement between Penn South Capital and Mulberry Pizza.
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Deal Type
NNN (Triple Net)
Effective Rent (Annual)
$232,143.56
Total Lease Value
$2,321,435.56
Net Landlord Cash Flow$232,143.56
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