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170 East 2nd Street

Holographic Studios Leases Retail Space At 170 East 2nd Street From Parag Sawhney
LEASEDRetail

Holographic Studios Leases Retail Space At 170 East 2nd Street From Parag Sawhney

170 East 2nd Street

$110

$110/SF

Building Size

650 SF

Asset Type

Retail

Closing

Feb 27, 2025

AI

The asset involved in the transaction is a retail property located at 170 East 2nd Street in the East Village market. The property encompasses a total square footage of 650, with an asking rent of $110 per foot. The lease type is a Modified Gross Lease.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $110/ft
  • Square Footage: 650
  • Address: 170 East 2nd Street
  • Market: East Village
  • Landlord: Parag Sawhney
  • Tenant: Holographic Studios
  • Landlord's Representative: Ben Biberaj & Elliot Wygoda - Meridian Capital Group
  • Tenant's Representative: Alexander Furst - Watch Hill Real Estate

The deal involved Parag Sawhney as the landlord, with Holographic Studios as the tenant. The representatives facilitating the transaction included Ben Biberaj and Elliot Wygoda from Meridian Capital Group representing the landlord, while Alexander Furst from Watch Hill Real Estate represented the tenant.

Players

Ben Biberaj

IPRG Retail Leasing

Broker

$26.2M

vol

192 deals

Broker
Parag Sawhney

Parag Sawhney

Landlord

$175.5M

vol

23 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

144209.09%

Cash-on-Cash

-41215.40%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93