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90 Water Street

Michael Fahey Leases Multifamily Space At 90 Water Street To Skullfade For $185/ft
LEASEDMultiFamily

Michael Fahey Leases Multifamily Space At 90 Water Street To Skullfade For $185/ft

90 Water Street

$185

$185/SF

Building Size

550 SF

Asset Type

MultiFamily

Closing

Dec 1, 2024

AI

The property involved in this transaction is located at 90 Water Street in the Financial District. This multifamily asset has a leasing price of $185 per square foot, covering a total area of 550 square feet. The lease type for this transaction is classified as a retail lease, and it has been vacant since the pandemic.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $185/ft
  • Square Footage: 550
  • Address: 90 Water Street
  • Market: Financial District
  • Landlord: Michael Fahey
  • Tenant: Skullfade
  • Landlord's Representative: Tanner Zar, Tyler Zar & Adam Lavian - Titan Group New York
  • Tenant's Representative: Miles Sabbagh - KSR
  • Lease Type: Retail Lease

This transaction was facilitated by the landlord's representatives from Titan Group New York, who managed the leasing process after the space was vacant for an extended period. The lease was signed after two months of efforts, demonstrating the persistence of the team involved. Titan Group New York provides specialized services in both commercial and residential leasing.

Players

Adam Lavian

Titan Group New York

Broker

58 deals

Broker

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

85745.95%

Cash-on-Cash

-24506.45%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93