KFC Leases Space In South Harlem Multifamily Building At 203 West 125th Street
203 West 125th Street, New York, NY, USA
Building Size
3,400 SF
Asset Type
MultiFamily
Closing
Nov 14, 2020
AI
203 West 125th Street, located in South Harlem, has recently been leased in a transaction involving a multifamily property. The lease was signed on November 15, 2020, between Jem Realty, the landlord, and KFC, the tenant. The deal was facilitated by brokers Solomon Sharaby, Albert Manopla, and Gary Lowitt from Kassin Sabbagh Realty.
Summary of transaction details:
- Property Type: Multifamily
- Market: South Harlem
- Address: 203 West 125th Street
- Tenant: KFC
- Landlord: Jem Realty
- Brokers: Solomon Sharaby, Albert Manopla, and Gary Lowitt from Kassin Sabbagh Realty
- Asking Rent: $150/ft.
- Square Footage: 3,400
This leasing transaction demonstrates the strong demand for commercial space in South Harlem. KFC, a prominent fast-food chain, has chosen this location for its business expansion. The involvement of experienced brokers Solomon Sharaby, Albert Manopla, and Gary Lowitt highlights the robust network and expertise offered by Kassin Sabbagh Realty.
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