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
About this deal
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.
On the Map
$66
$66/SF
Retail
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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
240348.48%
Cash-on-Cash
-68692.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93