Omega Jewelers Leases Retail Space At 118 Fulton Street In Financial District With Brokers James Famularo And John Roesch
118 Fulton Street, 19 Dutch
Building Size
1,000 SF
Asset Type
Retail
Closing
Jul 29, 2020
About this deal
AI
Omega Jewelers has signed a lease for a retail space located at 118 Fulton Street, also known as 19 Dutch, in the Financial District. The property is owned by Carmel Partners and was leased through the efforts of brokers James Famularo and John Roesch from Meridian Capital Group. The lease was completed on July 30, 2020, with an asking rent of $300 per square foot for a total of 1,000 square feet.
Summary of transaction details
- Property Type: Retail
- Transaction Date: 07/30/2020
- Address: 118 Fulton Street (19 Dutch)
- Market: Financial District
- Asking Rent: $300/ft.
- Square Footage: 1,000
- Tenant: Omega Jewelers
- Landlord: Carmel Partners
- Brokers: James Famularo, John Roesch from Meridian Capital Group
James Famularo and John Roesch from Meridian Capital Group represented both the tenant, Omega Jewelers, and the landlord, Carmel Partners, in this lease agreement. The retail space at 118 Fulton Street offers a great opportunity for Omega Jewelers to establish its presence in the Financial District.
Players
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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