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2265 1st Avenue, New York, ...

Meridian Capital Brokers Secure $7,000/Month Lease For Peacock Gourmet Food In East Harlem
LEASEDMultiFamily

Meridian Capital Brokers Secure $7,000/Month Lease For Peacock Gourmet Food In East Harlem

2265 1st Avenue, New York, NY 10035, USA

Building Size

850 SF

Asset Type

MultiFamily

Closing

Sep 19, 2019

AI

The multifamily property located at 2265 First Avenue in East Harlem has recently undergone a closed transaction. The property, with an area of 850 square feet, was leased out to Peacock Gourmet Food. The landlord, Max Koslowitz from Deergrow Developments, successfully negotiated the deal with the help of brokers Ben Biberaj, Logan Ryan, and James Famularo from Meridian Capital.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: Not specified
  • Address: 2265 First Avenue
  • Tenant: Peacock Gourmet Food
  • Landlord: Max Koslowitz – Deergrow Developments
  • Brokers: Ben Biberaj, Logan Ryan & James Famularo – Meridian Capital

During the negotiation process, Peacock Gourmet Food was able to secure the leasing for a monthly rent of $7,000. With the property having a price per square foot of $100, the total square footage of 850 would ensure ample space for the tenant's needs.

Players

Ben Biberaj

IPRG Retail Leasing

Broker

$26.2M

vol

192 deals

Broker

Max Koslowitz

Deergrow Developments

Landlord

$2.9M

vol

2 deals

Landlord

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