Just_Bulbs Leases Retail Space At 237 E. 58th St. On The Upper East Side With James Famularo From Meridian Capital Group
237 E 58th St, New York, NY, USA
Building Size
1,500 SF
Asset Type
Retail
Closing
Jan 26, 2021
About this deal
AI
The retail space located at 237 E. 58th St. in the Upper East Side has been leased. The transaction was facilitated by broker James Famularo from Meridian Capital Group representing the tenant Just Bulbs. The landlord, Marolda Equities, agreed to the lease deal.
Summary of transaction details
- Property Type: Retail
- Asking Rent: $80 per square foot
- Size: 1,500 square feet
- Date: 01/27/2021
- Market: Upper East Side
The retail space, spanning 1,500 square feet, was leased to Just Bulbs. The tenant was represented by James Famularo from Meridian Capital Group. Marolda Equities, the landlord, agreed to the lease transaction.
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