Getwhizz Leases Retail Space At 206 East 116th Street In East Harlem, Manhattan
206 East 116th Street
$75
$75/SF
Building Size
2,000 SF
Asset Type
Retail
Closing
Dec 4, 2023
AI
The retail property located at 206 East 116th Street in East Harlem, Manhattan has been leased. The asset offers approximately 2,000 square feet of space and the lease term is set for 10 years. The landlord, Neer Sachar, has agreed to a Modified Gross Lease with an asking rent of $75 per square foot.
Summary of Transaction Details
- Property Type: Retail
- Address: 206 East 116th Street, East Harlem, Manhattan
- Square Footage: 2,000
- Lease Term: 10 years
- Asking Rent: $75 per square foot
In this lease transaction, the landlord was represented by Joey Kafif from Safdie Realty Group (SRG). The tenant, Getwhizz, was represented by Maxim Raevschi from Habendum Real Estate.
For more information or assistance with finding a new space or leasing out vacant spaces, landlords and tenants in Brooklyn, Bronx, Manhattan, and Queens can contact Joey Kafif at [email protected].
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
211506.67%
Cash-on-Cash
-60449.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93