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206 East 116th Street

Getwhizz Leases Retail Space At 206 East 116th Street In East Harlem, Manhattan
LEASEDRetail

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

Neer Sachar

Sunrise Equities

Broker

$18.1M

vol

13 deals

Broker
Neer Sachar

Neer Sachar

Sunrise Equities

Landlord

$18.1M

vol

13 deals

Landlord

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