Takumi NYC Corp Leases 1,000 SF Retail Space At 181 Essex Street In Lower East Side
181 Essex Street, Manhattan, New York, NY, USA
Building Size
1,000 SF
Asset Type
Retail
Closing
Nov 12, 2021
About this deal
AI
The retail space located at 181 Essex Street in the Lower East Side has been leased. The property, spanning 1,000 square feet, was leased by Takumi NYC Corp. under the ownership of Steven Croman. The lease transaction was facilitated by Ben Biberaj and Elliot Wygoda of Meridian Retail Leasing along with Albert Halawani of KSR. The asking rent for the space was $160 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Lease
- Address: 181 Essex Street
- Market: Lower East Side
- Landlord: Steven Croman
- Tenant: Takumi NYC Corp.
- Brokers: Ben Biberaj - Meridian Retail Leasing, Elliot Wygoda - Meridian Retail Leasing, Albert Halawani - KSR
This lease deal was successfully brokered by Ben Biberaj and Elliot Wygoda from Meridian Retail Leasing, along with Albert Halawani from KSR. The transaction demonstrates the active retail market in the Lower East Side with the leasing of a 1,000 square foot space at 181 Essex Street.
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