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49 West 28th Street, Manhat...

Killar Karts Leases Multifamily Space At 49 West 28th Street In NoMad, NYC
LEASEDMultiFamily

Killar Karts Leases Multifamily Space At 49 West 28th Street In NoMad, NYC

49 West 28th Street, Manhattan, New York, NY, USA

Building Size

1,700 SF

Asset Type

MultiFamily

Closing

Aug 25, 2020

AI

The second-floor space at 49 West 28th Street in NoMad has been leased to Killar Karts, a multifamily property. The deal was facilitated by James Famularo and Kevin Bisconti from Meridian Capital Group, who represented the tenant. The transaction was completed on August 26, 2020.

Summary of transaction details:

  • Property Type: Multifamily
  • Asking Rent: $141/ft. (~SF: 1,700)
  • Address: 49 West 28th Street (Second Floor)
  • Market: NoMad

The landlord for this lease is Time Century Holdings LLC, owned by Yair Levy. The lease agreement was secured by the tenant, Killar Karts, with the assistance of James Famularo and Kevin Bisconti from Meridian Capital Group.

Players

James Famularo

Meridian Capital Group

Broker

$11.4M

vol

362 deals

Broker
Yair Levy

Yair Levy

Time Century Holdings

Landlord

$51.1M

vol

7 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