Dallal Realty Partners LLC Leases Office Space To NY Nonprofit At 256 West 116th Street
256 West 116th Street
$100
$100/SF
Building Size
2,500 SF
Asset Type
Office
Closing
Sep 30, 2025
About this deal
AI
The property asset involved in the transaction is an office space located at 256 West 116th Street, South Harlem, Manhattan. The asking rent for the asset is set at $60 per square foot, with a total area of 2,500 square feet. The lease type is a Modified Gross Lease, and the lease term is categorized as long term.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $60/ft
- Lease Term: Long term
- Lease Type: Modified Gross Lease
- Landlord: Dallal Realty Partners LLC - Zachary Crane & Family
- Tenant: NY Nonprofit
- Landlord's Representative: Ravi Idnani - Newmark
- Tenant's Representative: Jason Neman - LSL Advisors
This transaction involves significant contributions from key individuals and companies. The landlord, Dallal Realty Partners LLC, is represented by Ravi Idnani of Newmark, while the tenant, a NY Nonprofit organization, is represented by Jason Neman from LSL Advisors. The transaction highlights collaboration among experienced professionals in the real estate sector.
On the Map
$100
$100/SF
Office
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Players
New York Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
158630.00%
Cash-on-Cash
-45336.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93