Besen Partners Facilitates 15-Year Retail Lease For Romeos On 118 Saint Marks Place In East Village, Manhattan
118 St Marks Pl New York, NY 10009, USA
$164
$164/SF
Building Size
1,100 SF
Asset Type
Retail
Closing
Jun 1, 2023
About this deal
AI
The retail property located at 118 Saint Marks Place in the East Village, Manhattan has been leased. The property, owned by 118 St. Marks Realty Corp. and represented by Michael Besen, has been leased to Romeos, with Reed Adelson serving as their tenant representative. The lease term is for 15 years. The property offers 1,100 square feet of space and the asking rent is $164 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Lease
- Address: 118 Saint Marks Place
- Market: East Village, Manhattan
- Landlord: 118 St. Marks Realty Corp. - Michael Besen
- Tenant: Romeos - Reed Adelson
- Broker: Matthew Mager - Besen Partners
- Asking Rent: $164/ft
- Square Footage: 1,100 sf
- Lease Term: 15 years
The lease transaction of the retail property at 118 Saint Marks Place was facilitated by Matthew Mager of Besen Partners, who represented Romeos in the deal. This lease agreement enables Romeos to establish their presence in the East Village market and capitalize on the vibrant retail environment in the area.
On the Map
$164
$164/SF
Retail
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Players
New York Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
96725.61%
Cash-on-Cash
-27644.48%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93