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2310 Adam Clayton Powell Ju...

Adam Amsalem Of Black Spruce Management Leases Retail Space To Hammercutz In Harlem For $83/ft
LEASEDRetail

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

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

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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