Bill Powers Gallery Leases Retail Space In East Village For $100/ft
233 East 4th Street, Brooklyn, NY 11218, USA
Building Size
1,000 SF
Asset Type
Retail
Closing
Sep 1, 2021
About this deal
AI
Bill Powers Gallery, a retail space located at 233 East 4th Street in the East Village, has recently been leased. The property, spanning 1,000 square feet, was leased by the tenant from Steve Croman, the landlord. The lease was facilitated by brokers Ben Biberaj, Elliot Wygoda, and James Famularo from Meridian Retail Leasing. The asking rent for the space was $100 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Lease
- Address: 233 East 4th Street
- Market: East Village
- Tenant: Bill Powers Gallery
- Landlord: Steve Croman
- Brokers: Ben Biberaj, Elliot Wygoda, and James Famularo from Meridian Retail Leasing
- Asking Rent: $100/ft
- Square Footage: 1,000
The lease deal was successfully brokered by Ben Biberaj, Elliot Wygoda, and James Famularo from Meridian Retail Leasing, representing the tenant in the transaction. The Bill Powers Gallery, known for its artistic offerings, has secured this prime retail space in the heart of the East Village.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93