Mulberry Pizza Leases Retail Space At 174 Hester Street From Penn South Capital For 10 Years
174 Hester Street
$150
$150/SF
Building Size
1,350 SF
Asset Type
Retail
Closing
Oct 1, 2024
About this deal
AI
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.
On the Map
$150
$150/SF
Retail
View full map
Players
New York Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
Loading comparables…
Deal FAQ
Visit Ravi Idnani to view all their deals.
Browse New York retail leases on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
105753.33%
Cash-on-Cash
-30224.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93