Penn South Capital Leases Mixed-Use Property At 101 Stanton Street To P. Principle For $150/ft
101 Stanton Street
Building Size
1,800 SF
Asset Type
Mixed-use
Closing
Mar 31, 2025
About this deal
AI
The property involved in this transaction is a mixed-use asset located at 101 Stanton Street in the Lower East Side. The asking rent for the 1,800 square feet space is set at $150 per foot, under a modified gross lease agreement.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $150/ft
- Address: 101 Stanton Street
- Market: Lower East Side
- Lease Type: Modified Gross Lease
- Landlord: Penn South Capital
- Tenant: P. Principle
- Landlord's Representative: Andrew Stern, Ravi Idnani & Julia Singer - Newmark
- Tenant's Representative: Treena Lombardo - Isaacs & Company
- Square Footage: 1,800
The deal involved key representatives from both sides, with the landlord being represented by Andrew Stern, Ravi Idnani, and Julia Singer from Newmark, while Treena Lombardo from Isaacs & Company represented the tenant. This collaboration facilitated the leasing agreement in the Lower East Side market.
On the Map
Mixed-use
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Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Lease transactions
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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