Edward Ostad & Michael Ostad Lease Mixed-Use Property To 13 Sullivan Gents LLC In Soho

The property asset involved is a mixed-use building located at 142 Sullivan Street in Soho, Manhattan. The asset comprises 2 commercial units and 27 residential units, leased at an asking rent of $298 per square foot for a total area of 300 square feet. The lease term agreed upon is 10 years under a retail lease structure.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $89,400
• Landlord: Edward Ostad & Michael Ostad
• Tenant: 13 Sullivan Gents LLC
• Lease Term: 10 Years
• Lease Type: Retail Lease

The deal was facilitated by the landlords, Edward Ostad and Michael Ostad, while the tenant 13 Sullivan Gents LLC has committed to a long-term lease, reflecting an investment in the vibrant Soho market. This transaction illustrates the ongoing demand for mixed-use properties in sought-after neighborhoods.