MOD Signs Modified Gross Lease For Retail Space At 199 Prince Street In Soho, Manhattan
199 Prince Street
$410
$410/SF
Building Size
500 SF
Asset Type
Retail
Closing
Dec 15, 2023
About this deal
AI
Eugene Cordano has leased the retail space located at 199 Prince Street in Soho, Manhattan to MOD. The leased asset spans 500 square feet, with an asking rent of $410 per square foot under a Modified Gross Lease agreement.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: N/A
- Address: 199 Prince Street, Soho, Manhattan
- Market: Soho, Manhattan
Joshua Singer from The Heller Organization represented the tenant, MOD, in this transaction. Margie Sarway from Sinvin Real Estate acted as the landlord's representative.
On the Map
$410
$410/SF
Retail
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Players
New York Retail Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
38690.24%
Cash-on-Cash
-11057.79%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93