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
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