LeBlanc Pizza Restaurant Leases Retail Space At 23 East 108th Street In East Harlem
23 E 108th St New York, NY 10029, USA
$110
$110/SF
Building Size
650 SF
Asset Type
Retail
Closing
Aug 24, 2023
About this deal
AI
The recently transacted property in East Harlem is a retail space located at 23 East 108th Street. The property is leased by LeBlanc Pizza Restaurant, with the landlord being Hope Inc, represented by Walter M Roberts. The leasing transaction was facilitated by brokers Dane Harlowe and Alec Namdar from the Meridian Capital Group. The rental space spans 650 square feet and was listed at an asking rent of $110.70 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Lease
- Address: 23 East 108th Street
- Market: East Harlem
- Landlord: Hope Inc - Walter M Roberts
- Tenant: LeBlanc Pizza Restaurant
- Brokers: Dane Harlowe & Alec Namdar - Meridian Capital Group
- Asking Rent: $110.70/ft
The deal was successfully negotiated by Dane Harlowe and Alec Namdar from the Meridian Capital Group, who played a crucial role in connecting the landlord, Hope Inc, with the tenant, LeBlanc Pizza Restaurant. The leasing transaction further strengthens the presence of LeBlanc Pizza Restaurant in the East Harlem market, allowing them to expand their reach and cater to a larger customer base.
Players
Market 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
144209.09%
Cash-on-Cash
-41215.40%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93