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34 Norman Ave Brooklyn, Ny ...

Caffè Panna To Open Second NYC Location In Greenpoint, Brooklyn At 34 Norman Avenue
LEASEDRetail

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

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

Amanda Keller

TSCG (The Shopping Center Group)

Broker

2 deals

Broker

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