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241 Malcolm X Boulevard

Seth Newman Leases Retail Space To Black Coffee At 241 Malcolm X Boulevard In Harlem
LEASEDRetail

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

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.

Players

Brent Legunn

Kassin Sabbagh Realty

Broker

11 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

180261.36%

Cash-on-Cash

-51519.25%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93