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181 Essex Street, Manhattan...

Updated Oct 28, 2024

Takumi NYC Corp Leases 1,000 SF Retail Space At 181 Essex Street In Lower East Side
LEASEDRetail

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

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

Albert Halawani

Kassin Sabbagh Realty

Broker

$445M

vol

49 deals

Broker
Steve Croman

Steve Croman

Centennial Properties

Landlord

$50.1M

vol

40 deals

Landlord

New York Retail Market Snapshot

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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

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