EJC Salon & Wella Beauty Leases Retail Space At 201 & 203 Grand St. In NoLiTa
Grand Concourse, Bronx, NY 10458
Building Size
6,400 SF
Asset Type
Retail
Closing
Jul 19, 2020
About this deal
AI
The retail property located at 201 & 203 Grand St. in NoLiTa has been leased. The deal was finalized on 07/19/2021, with the tenant, EJC Salon & Wella Beauty, signing the lease agreement. The landlord, Gabriella Lepore Gaspar, facilitated the transaction.
Summary of transaction details:
- Property Type: Retail
- Address: 201 & 203 Grand St.
- Market: NoLiTa
The tenant, EJC Salon & Wella Beauty, was represented by Andy Law from Edward J. Cuccia Real Estate. On the other side, the landlord, Gabriella Lepore Gaspar, was represented by Clayton Traynham and James Famularo from Meridian Retail Leasing.
The lease transaction had an asking rent of $75 per square foot for the space spanning 5,100 square feet at 201 Grand St. Additionally, the space at 203 Grand St. was leased at an asking rent of $92 per square foot, measuring 1,300 square feet.
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Retail
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93