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220 Saint Nicholas Avenue

Big Apple RX Leases Retail Space At 220 Saint Nicholas Avenue From Landlord Justin Gorjian
LEASEDRetail

Big Apple RX Leases Retail Space At 220 Saint Nicholas Avenue From Landlord Justin Gorjian

220 Saint Nicholas Avenue

$120

$120/SF

Building Size

700 SF

Asset Type

Retail

Closing

Sep 11, 2024

AI

The property asset involved in the transaction is a retail space located at 220 Saint Nicholas Avenue, situated in the Harlem market of Manhattan. The retail lease pertains to a square footage of 700, with an asking rent of $120 per square foot.

Summary of transaction details:

The key individuals involved in the transaction include Justin Gorjian, representing the landlord through Gorjian Real Estate Group, and Big Apple RX as the tenant. The brokers facilitating the lease are Noam Aziz and Alec Namdar from Meridian Capital Group, playing an essential role in the deal's execution.

Players

Alec Namdar

Meridian Capital Group

Broker

35 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

132191.67%

Cash-on-Cash

-37780.78%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93