Parag Sawhney Jaan Leases Retail Space To Arete Studios At 116 Suffolk Street For $100/ft

This retail asset is located at 116 Suffolk Street in the Lower East Side market. It involves a lease with an asking rent of $100 per square foot for a total area of 2,500 square feet. The lease type is a single net lease.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $250,000
• Landlord: Parag Sawhney Jaan
• Tenant: Arete Studios
• Landlord's Representative: Noam Aziz, Carson Shahrabani & Max Freudenberger - Meridian Capital Group
• Tenant's Representative: Max Swerdloff & Isabel Krajovan - AMPS

The transaction was facilitated by Meridian Capital Group representing the landlord alongside AMPS representing the tenant, highlighting the collaborative efforts of both parties in securing this lease agreement.