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
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