Harlem Sky Childcare Leases Retail Space From L & M Development Partners In East Harlem
1951 Park Avenue
$35
$35/SF
Building Size
10,300 SF
Asset Type
Retail
Closing
Sep 27, 2024
About this deal
AI
The retail asset located at 1951 Park Avenue in the East Harlem market features a significant lease transaction. The property spans 10,300 square feet and has an asking rent of $35 per square foot. The lease type is a Modified Gross Lease.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $35/ft
- Address: 1951 Park Avenue
- Market: East Harlem
- Landlord: L & M Development Partners
- Tenant: Harlem Sky Childcare
- Brokers: Moshe Akiva & Sammy Levy - Tri State Commercial Realty
The deal involved L & M Development Partners as the landlord and Harlem Sky Childcare as the tenant. The transaction was facilitated by brokers Moshe Akiva and Sammy Levy, representing the interests of the respective parties in this leasing deal.
On the Map
$35
$35/SF
Retail
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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
453228.57%
Cash-on-Cash
-129534.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93