Nili Lotan Opens First Men's Clothing Location In Tribeca With Jacob Harooni
183 Duane Street
$168
$168/SF
Building Size
1,000 SF
Asset Type
Retail
Closing
Mar 26, 2024
AI
The retail property located at 183 Duane Street in Tribeca, Manhattan, was leased to Nili Lotan for their first men's clothing location. The property features 1,000 square feet of space, and the transaction was facilitated by Jacob Harooni of SP Capital Group, representing both the tenant, Nili Lotan, and the landlord, Hung Chang. The lease was a retail lease with an asking rent of $168 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 183 Duane Street
- Market: Tribeca, Manhattan
- Tenant: Nili Lotan
- Landlord: Hung Chang
- Broker: Jacob Harooni - SP Capital Group
- Asking Rent: $168/ft
- Size: 1,000 square feet
- Lease Type: Retail Lease
Jacob Harooni, the broker from SP Capital Group, is an expert in real estate leasing, selling, and buying. He can be reached at (516) 423-1975. It is noteworthy that this lease marks Nili Lotan's venture into men's clothing, signifying a strategic expansion for the brand.
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
94422.62%
Cash-on-Cash
-26986.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93