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2082 Frederick Douglass Bou...

Real Cinema Unlimited Signs Retail Lease At 2082 Frederick Douglass Boulevard In South Harlem
LEASEDRetail

Real Cinema Unlimited Signs Retail Lease At 2082 Frederick Douglass Boulevard In South Harlem

2082 Frederick Douglass Boulevard

$96

$96/SF

Building Size

1,000 SF

Asset Type

Retail

Closing

Jul 11, 2024

AI

The retail property located at 2082 Frederick Douglass Boulevard in South Harlem, Manhattan, features a lease with an asking rent of $96 per square foot for a total area of 1,000 square feet. The asset is positioned in a dynamic market recognized for its potential growth and commercial activity.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $96/ft
  • Square Footage: 1,000 SF
  • Landlord: Steven Kashanian - Klosed Properties
  • Tenant: Real Cinema Unlimited
  • Landlord's Representative: Brent Legunn - KSR
  • Tenant's Representative: Noam Aziz - Meridian Capital Group

The transaction involved key representatives, with Brent Legunn of KSR acting on behalf of the landlord, Steven Kashanian, while Noam Aziz of Meridian Capital Group represented the tenant, Real Cinema Unlimited, ensuring both parties were effectively represented in the lease agreement.

Players

Brent Legunn

Kassin Sabbagh Realty

Broker

11 deals

Broker

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

165239.58%

Cash-on-Cash

-47225.98%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93