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19 Prince Street

Rixo Leases Retail Space At 19 Prince Street In Nolita With Building Equity Management As Landlord
LEASEDRetail

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:

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

Cassie Durand

CBRE

Broker

5 deals

Broker

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

39657.50%

Cash-on-Cash

-11334.24%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93