Fred Carlos Leases Office Space To 140 Essex LES At 131 Essex Street In Lower East Side
131 Essex Street
$53
$53/SF
Building Size
2,100 SF
Asset Type
Retail
Closing
Jan 9, 2025
About this deal
AI
The property asset involved in this transaction is an office located at 131 Essex Street in the Lower East Side market. The space measures 2,100 square feet and was leased at an asking rent of $53 per square foot under a Modified Gross Lease.
Summary of transation details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 131 Essex Street
- Market: Lower East Side
- Landlord: Fred Carlos
- Tenant: 140 Essex LES
- Landlord's Representative: Sergio Turaev & Greg Gang - Endurance Real Estate
- Tenant's Representative: Stephen Ligambi - Meridian Capital Group
This lease transaction included key representatives in the negotiation process, with Sergio Turaev and Greg Gang representing the landlord Fred Carlos from Endurance Real Estate, while Stephen Ligambi represented the tenant 140 Essex LES from Meridian Capital Group.
On the Map
$53
$53/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
299301.89%
Cash-on-Cash
-85541.40%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93