Lex Smoke & Convenience Corp Leases Retail Space In East Harlem For $75/ft
118 East 116th Street, New York City, New York 10029, United States
Building Size
1,200 SF
Asset Type
Retail
Closing
Mar 9, 2022
About this deal
AI
An lease deal was recently closed in East Harlem. The retail property located at 118 E. 116th Street was the subject of the transaction. The tenant, Lex Smoke & Convenience Corp., will occupy the 1,200 square feet of space. The deal was facilitated by broker Rob Mulholland from Meridian Retail Leasing. The asking rent for the property was $75 per square foot.
Summary of transation details
- Property Type: Retail
- Transaction Amount: N/A
- Market: East Harlem
- Address: 118 E. 116th Street
The lease deal involved Lex Smoke & Convenience Corp. as the tenant. The deal was facilitated by broker Rob Mulholland from Meridian Retail Leasing. No additional information was provided.
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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