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131 Essex Street

Fred Carlos Leases Office Space To 140 Essex LES At 131 Essex Street In Lower East Side
LEASEDRetail

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

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.

Players

Gregory Gang

Endurance Real Estate Group LLC

Broker

$6.2M

vol

6 deals

Broker
Century Park Realty
Century Park RealtyBrokerage

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