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24 St Marks Pl, New York, N...

Jewels 24 Leases Mixed-Use Space At 24 St Marks Place In NoHo
LEASEDMixed-use

Jewels 24 Leases Mixed-Use Space At 24 St Marks Place In NoHo

24 St Marks Pl, New York, NY 10003, USA

Building Size

8,000 SF

Asset Type

Mixed-use

Closing

Jul 29, 2020

AI

The mixed-use property located at 24 St Marks Place in NoHo has been leased. The tenant, Jewels 24, will occupy a space of 800 square feet. The lease was negotiated by broker James Famularo from Meridian Capital Group on behalf of the tenant. The landlord, Danny Hakakian, agreed to an asking rent of $190 per square foot.

Summary of transaction details

James Famularo, representing Meridian Capital Group, played a crucial role in facilitating the lease deal between Jewels 24 and Danny Hakakian. The negotiation resulted in an agreement for the tenant to lease a space of 800 square feet at an asking rent of $190 per square foot. This transaction highlights the collaborative efforts of both the tenant and landlord, as well as the expertise of broker James Famularo.

Players

James Famularo

Meridian Capital Group

Broker

$11.4M

vol

374 deals

Broker
Allied Realty
Allied RealtyLandlord

Stony Brook 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93