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
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