Seth Newman Leases Retail Space To Black Coffee At 241 Malcolm X Boulevard In Harlem
241 Malcolm X Boulevard
$88
$88/SF
Building Size
1,500 SF
Asset Type
Retail
Closing
Apr 15, 2025
About this deal
AI
The property asset involved in this transaction is a retail space located at 241 Malcolm X Boulevard in Harlem, Manhattan. The asking rent for this location is $88 per square foot, covering a total area of 1,500 square feet. The lease type for this agreement is a Modified Gross Lease.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $88/ft
- Location: 241 Malcolm X Boulevard, Harlem, Manhattan
- Square Footage: 1,500
- Lease Type: Modified Gross Lease
- Landlord: Seth Newman
- Tenant: Black Coffee
- Brokers: Noam Aziz & Nathan Shabot - Meridian Capital Group
Noam Aziz and Nathan Shabot from Meridian Capital Group represent the landlord, Seth Newman, in this transaction, facilitating the lease agreement with the tenant, Black Coffee.
On the Map
$88
$88/SF
Retail
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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
180261.36%
Cash-on-Cash
-51519.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93