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172 Spring Street

Time Equities Leases Retail Space At 172 Spring Street In New York City To Infinite Jewelry With Brokers Jack Hamadani & Akram Mozeb - KSR
LEASEDRetail

Time Equities Leases Retail Space At 172 Spring Street In New York City To Infinite Jewelry With Brokers Jack Hamadani & Akram Mozeb - KSR

172 Spring Street

$300

$300/SF

Building Size

1,900 SF

Asset Type

Retail

Closing

Jan 3, 2023

AI

The lease of a retail space located at 172 Spring Street in New York City has been finalized. The property consists of 1,100 square feet on the ground level and an additional 800 square feet in the basement. The landlord of the property is Time Equities, and the tenant is Infinite Jewelry.

Summary of transation details

  • Property Type: Retail
  • Transaction Amount: Lease
  • Address: 172 Spring Street
  • Market: New York City
  • Size: 1,100 square feet (ground floor) + 800 square feet (basement)

The lease transaction was facilitated by brokers Jack Hamadani and Akram Mozeb from KSR. The asking rent for the space was $300 per square foot.

Players

Akram Mozeb

Kassin Sabbagh Realty

Broker

15 deals

Broker
Time Equities
Time EquitiesLandlord

New York City 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

52876.67%

Cash-on-Cash

-15112.31%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93