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
- Property Type: Multifamily
- Transaction Amount: N/A
- Address: 116 Suffolk Street
- Market: Lower East Side
- Tenant: Bluestockings
- Landlord: Penn South Capital
- Brokers: Jordan Raphan, Gary Lowitt, Samuel Chera (Kassin Sabbagh Realty)
- Asking Rent: $60/ft.
- Square Footage: 2,500 SF
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
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · 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