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23 E 108th St New York, NY ...

Updated Oct 29, 2024

LeBlanc Pizza Restaurant Leases Retail Space At 23 East 108th Street In East Harlem
LEASEDRetail

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

Dane Harlowe

Meridian Capital Group

Broker

$1.8M

vol

68 deals

Broker
HI
Hope IncLandlord

Market Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

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Deal FAQ

About $110 per square foot on a published $110 for 650 square feet (2023).

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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

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