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
- Property Type: Mixed-use
- Transaction Amount: Lease
- Tenant: Jewels 24
- Landlord: Danny Hakakian
- Broker: James Famularo - Meridian Capital Group
- Asking Rent: $190
- Square Footage: 800
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
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