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Jazz Genius Leases Retail Space In Lower East Side For $180/ft

Property Image
LEASED
$180
Steven Evans
Ross Berkowitz
+ 3

New York

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Retail3,430 SF
Leased 06/27/2024
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Property Image
LEASED

Jazz Genius Leases Retail Space In Lower East Side For $180/ft

151 Essex Street

See Similar Deals
Retail3,430 SF
Leased 06/27/2024
Steven Evans
Ross Berkowitz
+ 3
Contact now

Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$180
Total Square Footage:3,430 SF
Transaction Type:Lease

The retail property located at 151 Essex Street in Lower East Side has been leased for a Modified Gross Lease agreement. The property spans 3,430 square feet with an asking rent of $180 per square foot. The landlord, HUBB, secured the deal with Jazz Genius as the tenant.

Summary of transaction details:

The deal was facilitated by Andrew Stern, Ravi Idnani, Ariel Schuster, and Ross Berkowitz of Newmark, representing the landlord, HUBB. On the other side, the tenant, Jazz Genius, was represented by Emre Bozkurt and Steven Evans of Platinum Properties.

Players

Andrew Stern
76 deals$5.4M volume
BROKER

Ariel Schuster
Newmark
27 deals$461.2M volume
BROKER

Ravi Idnani
Newmark
67 deals$3M volume(212) 916-2938
BROKER

Ross Berkowitz
Newmark
20 deals
BROKER

Steven Evans
Platinum Commercial
47 deals$36.1M volume
BROKER

Emre Bozkurt
Platinum Commercial
24 deals$2.8M volume
BROKER

Details

LEASED
IMAGE: Andrew Stern, Ravi Idnani, Emre Bozkurt, Steven Evans, Ariel Schuster & Ross Berkowitz DATE: 06/27/2024 ADDRESS: 151 Essex Street MARKET: Lower East Side ASSET TYPE: Retail LANDLORD: HUBB TENANT: Jazz Genius LANDLORD'S REP: Andrew Stern, Ravi Idnani, Ariel Schuster & Ross Berkowitz - Newmark (@Newmark) TENANT'S REP: Emre Bozkurt (@EmreBozkurt_NYCRealEstate) & Steven Evans - Platinum Properties (@PlatinumProperties_NYC) ASKING RENT: $180/ft ~ SF: 3,430 LEASE TYPE: Modified Gross Lease

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Deal Type
Effective Rent (Annual)

$707,779.91

Total Lease Value

$7,077,799.09

Net Landlord Cash Flow$707,779.91