Centennial Properties Leases Retail Space To Janie Bakes In East Harlem
2118 2nd Avenue
$68
$68/SF
Building Size
1,500 SF
Asset Type
Retail
Closing
Apr 29, 2022
About this deal
AI
A retail property located at 2118 Second Avenue in East Harlem has been leased. The property spans approximately 1,500 square feet and was leased by Janie Bakes. The landlord, Centennial Properties, was represented by Dane Harlowe from Meridian Retail Leasing, while Janie Bakes was represented by Newmark.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Lease
- Address: 2118 Second Avenue
- Market: East Harlem
Dane Harlowe from Meridian Retail Leasing served as the landlord's representative in the deal, and Newmark represented Janie Bakes. The asking rent for the retail space was $68 per square foot.
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
233279.41%
Cash-on-Cash
-66671.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93