Zodiac Club LLC Leases Retail Space On Lower East Side For $156,000
1119 Orchard Street, Manhattan, New York, NY, USA
Building Size
2,000 SF
Asset Type
Retail
Closing
Nov 8, 2021
AI
The retail property located at 119 Orchard Street in the Lower East Side has been leased. The lease transaction took place on 11/08/2021.
Summary of transaction details:
- Property Type: Retail
- Asking Rent: $78 per square foot
- Square Footage: 2,000
- Address: 119 Orchard Street
- Market: Lower East Side
The landlord, Griffon Q LLC, entered into a lease agreement with Zodiac Club LLC to occupy the retail space. Representing the tenant, Zodiac Club LLC, were Christina Combias and Sam Akleh from VORO. Yoni Hadar and Scott McAnney from Meridian Retail Leasing acted as the landlord's representatives in the deal.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93