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2395 Frederick Douglass Bou...

M&W Communications Inc. Leases Retail Space In Harlem At 2395 Frederick Douglass Blvd
LEASEDRetail

M&W Communications Inc. Leases Retail Space In Harlem At 2395 Frederick Douglass Blvd

2395 Frederick Douglass Boulevard, New York, NY 10027

Building Size

1,000 SF

Asset Type

Retail

Closing

Apr 18, 2021

AI

An 1,000 square foot retail property located at 2395 Frederick Douglass Blvd in Harlem has been leased by M&W Communications Inc. The property is owned by JCAL Development Group, represented by Joshua Weissman. The deal was facilitated by brokers Andrew Roth of XRSomerset and Brent Legunn of assin_Sabbagh_Realty. The lease was secured at an asking rent of $65 per square foot.

Summary of transation details

  • Property Type: Retail
  • Transaction Amount: N/A
  • Address: 2395 Frederick Douglass Blvd
  • Market: Harlem

The leased property at 2395 Frederick Douglass Blvd in Harlem was secured by M&W Communications Inc. Joshua Weissman of JCAL Development Group represented the landlord in the deal. The tenant was represented by Andrew Roth of XRSomerset and Brent Legunn of assin_Sabbagh_Realty acted as the brokers for the transaction.

Players

Andrew J. Roth

Somerset Residential

Broker

$11.5M

vol

13 deals

Broker

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93