Updated Oct 29, 2024
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
Market 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
115788.32%
Cash-on-Cash
-33092.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93