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138 Bowery, New York, NY 10...

The Ghost Group Leases Retail Space At 138 Bowery, NoLita With Tenant's Rep Michael J. Hymowitz
LEASEDRetail

The Ghost Group Leases Retail Space At 138 Bowery, NoLita With Tenant's Rep Michael J. Hymowitz

138 Bowery, New York, NY 10013, USA

Building Size

15,817 SF

Asset Type

Retail

Closing

Aug 26, 2021

AI

The retail property located at 138 Bowery in NoLita was recently leased by The Ghost Group. The lease transaction was facilitated by Michael J. Hymowitz from LSL Advisors, who represented the tenant. The landlord, Emmut Properties, was represented by Richard Guarino and Anthony Rosato from FriedmanRoth. The asking rent for the property was $97 per square foot, with a total square footage of 15,817.

Summary of transaction details

  • Property Type: Retail
  • Date: 08/26/2021
  • Address: 138 Bowery
  • Market: NoLita
  • Tenant: The Ghost Group
  • Tenant's Rep: Michael J. Hymowitz - LSL Advisors
  • Landlord: Emmut Properties - John Young
  • Landlord's Rep: Richard Guarino & Anthony Rosato - FriedmanRoth
  • Asking Rent: $97/ft.
  • Square Footage: 15,817

Richard Guarino and Anthony Rosato, representing FriedmanRoth, played a crucial role in representing the landlord, Emmut Properties, in the lease deal. The presence of Michael J. Hymowitz from LSL Advisors as the tenant's representative ensured a smooth transaction between The Ghost Group and Emmut Properties.

Players

Michael Hymowitz

LSL Advisors

Broker

10 deals

Broker

John Young

Emmut Properties

Landlord

$87.6M

vol

7 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93