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122 Ludlow Street

Lazy Llama Signs Lease For Retail Space At 122 Ludlow Street In Lower East Side
LEASEDRetail

Lazy Llama Signs Lease For Retail Space At 122 Ludlow Street In Lower East Side

122 Ludlow Street

$300

$300/SF

Building Size

500 SF

Asset Type

Retail

Closing

Nov 3, 2023

AI

The retail property located at 122 Ludlow Street in the Lower East Side has been leased. The tenant, Lazy Llama, has agreed to lease the space from the landlord, Abe Sanieoff. The lease transaction was facilitated by Greg Goldberg and Abie Kassin of Meridian Capital Group, representing the landlord, and Aaron Brandes of Real New York, representing the tenant. The leasing deal was closed on November 3, 2023.

Summary of transaction details:

  • Property Type: Retail
  • Lease Date: November 3, 2023
  • Address: 122 Ludlow Street
  • Market: Lower East Side
  • Tenant: Lazy Llama
  • Landlord: Abe Sanieoff
  • Landlord's Representative: Greg Goldberg & Abie Kassin - Meridian Capital Group
  • Tenant's Representative: Aaron Brandes - Real New York
  • Asking Rent: $300/ft
  • Square Footage: 500 SF

The leasing transaction between Lazy Llama and Abe Sanieoff was successfully executed with the assistance of Greg Goldberg, Abie Kassin, and Aaron Brandes. The representation and negotiations by the landlord's representatives, Greg Goldberg and Abie Kassin of Meridian Capital Group, and the tenant's representative, Aaron Brandes of Real New York, played a crucial role in finalizing the lease. This agreement marks a significant development in the retail real estate market in the Lower East Side.

Players

Abie Kassin

Meridian Capital Group

Broker

$1.6B

vol

52 deals

Broker

Abe Sanieoff

Landlord

6 deals

Landlord

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

52876.67%

Cash-on-Cash

-15112.31%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93