Adam Amsalem Of Black Spruce Management Leases Retail Space To Hammercutz In Harlem For $83/ft
2310 Adam Clayton Powell Junior Boulevard
$83
$83/SF
Building Size
650 SF
Asset Type
Retail
Closing
Apr 7, 2025
AI
The asset involved in this transaction is a retail property located at 2310 Adam Clayton Powell Junior Boulevard in Harlem, Manhattan. The leased space has an area of 650 square feet and the asking rent was set at $83 per square foot. The lease type negotiated is a Modified Gross Lease.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $83/ft
- Square Footage: 650
- Address: 2310 Adam Clayton Powell Junior Boulevard
- Market: Harlem, Manhattan
- Landlord: Adam Amsalem - Black Spruce Management
- Tenant: Hammercutz
- Brokers: James Famularo & Cole Kleppinger - Meridian Capital Group
James Famularo and Cole Kleppinger represented the landlord, Adam Amsalem of Black Spruce Management, in this leasing transaction. The deal marks a significant arrangement between the landlord and the tenant, Hammercutz, showcasing the collaboration of the involved parties in securing the lease.
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
191120.48%
Cash-on-Cash
-54622.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93