Fred Astaire Dance Studio Leases Retail Space From Kamran Hakim In Upper East Side
1402 Lexington Avenue
$120
$120/SF
Building Size
2,500 SF
Asset Type
Retail
Closing
Apr 24, 2024
About this deal
AI
The retail property located at 1402 Lexington Avenue in the Upper East Side has been leased to Fred Astaire Dance Studio. The property spans 2,500 square feet with an asking rent of $120 per square foot. The lease was finalized on 04/24/2024, with Kamran Hakim serving as the landlord.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Tenant: Fred Astaire Dance Studio
- Tenant's Rep: Claude Kolb & Jeff Geoghegan - KSR
- Landlord: Kamran Hakim
- Landlord's Rep: Gui Tepedino - Capstreet Advisors
- Address: 1402 Lexington Avenue
- Market: Upper East Side
- Lease Type: Retail Lease
Claude Kolb, Jeff Geoghegan, and Gui Tepedino played key roles in facilitating the lease agreement. Kolb and Geoghegan acted as the tenant's representatives on behalf of KSR, while Tepedino represented the landlord, Kamran Hakim, through Capstreet Advisors. The transaction underlines the collaborative efforts of these professionals in securing the lease agreement for the retail space.
On the Map
$120
$120/SF
Retail
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
132191.67%
Cash-on-Cash
-37780.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93