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:
- Property Type: Retail
- Transaction Amount: $120/ft
- Address: 220 Saint Nicholas Avenue
- Market: Harlem, Manhattan
- Asset Type: Retail
- Landlord: Justin Gorjian - Gorjian Real Estate Group
- Tenant: Big Apple RX
- Brokers: Noam Aziz & Alec Namdar - Meridian Capital Group
- Lease Type: Retail Lease
- SF: 700
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
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