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28 W 125th St New York, NY ...

Updated Oct 29, 2024

Republic Investment Company Leases Multifamily Property At 28 East 125th Street In Harlem To Mr Exotic 6
LEASEDMultiFamily

Republic Investment Company Leases Multifamily Property At 28 East 125th Street In Harlem To Mr Exotic 6

28 W 125th St New York, NY 10027, USA

$137

$137/SF

Building Size

700 SF

Asset Type

MultiFamily

Closing

Jul 28, 2023

About this deal

AI

The property at 28 East 125th Street in Harlem has recently been leased. The asset type is a multifamily property, offering residential units to tenants. The transaction involves Republic Investment Company as the landlord, with Ben Nehmadi representing the company's interests. The tenant in this lease is Mr Exotic 6. The brokers responsible for facilitating the deal are Dane Harlowe and Alec Namdar from Meridian Capital Group.

Summary of transaction details

  • Property Type: Multifamily
  • Address: 28 East 125th Street
  • Market: Harlem
  • Landlord: Republic Investment Company - Ben Nehmadi
  • Tenant: Mr Exotic 6
  • Brokers: Dane Harlowe & Alec Namdar - Meridian Capital Group
  • Asking Rent: $137.14/ft
  • Square Footage: 700 ft

The deal's key individuals and companies involved in this lease transaction bring expertise and representation to ensure a smooth process. Ben Nehmadi acts as the landlord's representative for Republic Investment Company, and Mr Exotic 6 serves as the tenant. Dane Harlowe and Alec Namdar, brokers from Meridian Capital Group, work diligently to secure the lease agreement. Their expertise in the market contributes to the successful completion of the transaction.

Players

Dane Harlowe

Meridian Capital Group

Broker

$1.8M

vol

68 deals

Broker

Ben Nehmadi

Republic Investment Company

Landlord

2 deals

Landlord

Market MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Lease transactions

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Deal FAQ

About $137 per square foot on a published $137 for 700 square feet (2023).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

115788.32%

Cash-on-Cash

-33092.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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