facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Multifamily

/

Lease

/

116 Suffolk Street, New Yor...

Bluestockings Signs Lease For Lower East Side Multifamily Space
LEASEDMultiFamily

Bluestockings Signs Lease For Lower East Side Multifamily Space

116 Suffolk Street, New York, NY 10002

Building Size

2,500 SF

Asset Type

MultiFamily

Closing

Nov 12, 2020

AI

A multifamily property located at 116 Suffolk Street in the Lower East Side has been leased. The tenant, Bluestockings, will be occupying the space. The landlord, Penn South Capital, facilitated the transaction. Jordan Raphan, Gary Lowitt, and Samuel Chera from Kassin Sabbagh Realty served as the brokers in this deal.

Summary of transaction details

The deal was finalized on November 13, 2020. Although the transaction amount is not disclosed, the property offers 2,500 square feet of space for Bluestockings to operate in the Lower East Side of New York City.

Players

Gary Lowitt

Kassin Sabbagh Realty

Broker

3 deals

Broker
Penn South Capital
Penn South CapitalLandlord

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Lease transactions

Loading comparables…

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