facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Retail

/

Lease

/

2254 Adam Clayton Powell Ju...

Rajab Collection Leases Retail Space At 2254 Adam Clayton Powell Boulevard With Landlord Black Spruce Management
LEASEDRetail

Rajab Collection Leases Retail Space At 2254 Adam Clayton Powell Boulevard With Landlord Black Spruce Management

2254 Adam Clayton Powell Junior Boulevard

$66

$66/SF

Building Size

1,000 SF

Asset Type

Retail

Closing

Apr 3, 2025

AI

The property asset involved in this transaction is a retail space located at 2254 Adam Clayton Powell Junior Boulevard in Harlem, Manhattan. The total square footage of the space is 1,000 SF, and it has a modified gross lease type. The asking rent for this property is $66 per square foot.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $66/ft
  • Address: 2254 Adam Clayton Powell Junior Boulevard
  • Market: Harlem, Manhattan
  • Landlord: Adam Amsalem
  • Landlord's Representative: James Famularo & Cole Kleppinger - Meridian Capital Group
  • Tenant: Rajab Collection
  • Tenant's Representative: Alec Namdar - Meridian Capital Group

The transaction was facilitated by Meridian Capital Group, with James Famularo and Cole Kleppinger representing the landlord, Adam Amsalem, while Alec Namdar represented the tenant, Rajab Collection. This representation structure showcases the involvement of a dedicated team from Meridian Capital Group in executing this lease deal.

Players

James Famularo

Meridian Capital Group

Broker

$11.4M

vol

360 deals

Broker
Black Spruce Management
Black Spruce ManagementLandlord

New York Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

240348.48%

Cash-on-Cash

-68692.33%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93