Caffè Panna To Open Second NYC Location In Greenpoint, Brooklyn At 34 Norman Avenue
34 Norman Ave Brooklyn, Ny 11222, Usa
$85
$85/SF
Building Size
4,700 SF
Asset Type
Retail
Closing
Aug 10, 2023
AI
Caffè Panna, an Italian-style ice cream brand, is set to open its second NYC location in Greenpoint, Brooklyn at 34 Norman Avenue. The retail space, spanning 4,700 square feet, will be leased by Caffè Panna from landlord Orin Portnoy.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 34 Norman Avenue
- Market: Greenpoint, Brooklyn
- Landlord: Orin Portnoy
- Tenant: Caffè Panna
- Landlord's Rep: Amanda Keller, Austin Knief & Evan Clements - Atlantic Retail
- Tenant's Rep: Alex Yanoff & Taryn Brandes - Brand Urban
- Asking Rent: $85/ft
Caffè Panna selected the Greenpoint location for its second NYC outpost, joining the vibrant Brooklyn neighborhood. The lease transaction was facilitated by landlord representatives Amanda Keller, Austin Knief, and Evan Clements from Atlantic Retail, and tenant representatives Alex Yanoff and Taryn Brandes from Brand Urban.
Players
Brisbane 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
186623.53%
Cash-on-Cash
-53337.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93