Updated Dec 4, 2024
Simon Fouladian Leases Multifamily Space To Y Nails At 164 Stanton Street For $75/ft
164 Stanton Street
Building Size
1,200 SF
Asset Type
MultiFamily
Closing
Jul 26, 2024
About this deal
AI
The property involved in this transaction is a multifamily asset located at 164 Stanton Street in the Lower East Side market. The asking rent was set at $75 per square foot for a total area of 1,200 square feet. The lease type for this property is classified as a Modified Gross Lease.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $75/ft
- Square Footage: 1,200
- Address: 164 Stanton Street
- Market: Lower East Side
- Landlord: Simon Fouladian
- Tenant: Y Nails
- Broker Representatives: Isaac Abed & Chandler Slate - Tri State Commercial Realty
The deal was facilitated by the brokers Isaac Abed and Chandler Slate, who represented the landlord Simon Fouladian and the tenant Y Nails in this transaction. Their role was crucial in ensuring the terms of the lease agreement were negotiated effectively.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
211506.67%
Cash-on-Cash
-60449.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93