Rixo Leases Retail Space At 19 Prince Street In Nolita With Building Equity Management As Landlord
19 Prince Street
$400
$400/SF
Building Size
750 SF
Asset Type
Retail
Closing
Sep 6, 2024
AI
The property involved in this transaction is a retail space located at 19 Prince Street in the Nolita market. The asking rent is set at $400 per square foot, with a total area of 750 square feet. The lease term for this retail space is established at 10 years, forming a significant commitment for the tenant.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $400/ft
- Lease Term: 10 years
- Landlord: Building Equity Management
- Tenant: Rixo
- Landlord's Representative: Aaron Shirazi & Jared Minc - Building Equity Management
- Tenant's Representative: Aylin Gucalp & Cassie Durand - CBRE
The transaction involves key representatives who facilitated this deal. The landlord's interests were represented by Aaron Shirazi and Jared Minc from Building Equity Management, while the tenant, Rixo, was represented by Aylin Gucalp and Cassie Durand from CBRE.
Players
New York Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
39657.50%
Cash-on-Cash
-11334.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93