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242 E 14th St New York, NY ...

Stellar Management Leases Retail Space To Upright Citizens Brigade In East Village
LEASEDRetail

Stellar Management Leases Retail Space To Upright Citizens Brigade In East Village

242 E 14th St New York, NY 10003, USA

$65

$65/SF

Building Size

9,500 SF

Asset Type

Retail

Closing

Jun 2, 2023

AI

Stellar Management, a landlord in the East Village neighborhood, has recently completed a lease transaction for a retail space located at 242 East 14th Street. The tenant for this space is Upright Citizens Brigade, a well-known comedy theater. The deal was negotiated by Jordan Raphan, Albert Manopla, and Jack Khaski from KSR, representing the landlord. Cameron Tuttle from Denham Wolf acted as the tenant's representative in this transaction. The retail space measures approximately 9,500 square feet and was leased at an asking rent of $65 per square foot.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Lease
  • Address: 242 East 14th Street
  • Market: East Village
  • Landlord: Stellar Management
  • Tenant: Upright Citizens Brigade
  • Landlord's Representative: Jordan Raphan, Albert Manopla, & Jack Khaski - KSR
  • Tenant's Representative: Cameron Tuttle - Denham Wolf
  • Asking Rent: $65/ft
  • Square Footage: 9,500

This lease transaction highlights the collaboration between Stellar Management as the landlord and Upright Citizens Brigade as the tenant. Jordan Raphan, Albert Manopla, and Jack Khaski from KSR successfully represented Stellar Management in negotiating favorable terms for the lease. On the other hand, Cameron Tuttle from Denham Wolf worked on behalf of Upright Citizens Brigade to ensure their interests were well-represented in the deal.

Players

Albert Manopla

Kassin Sabbagh Realty

Broker

$4.3M

vol

89 deals

Broker
Stellar Management
Stellar ManagementLender
Stellar Management
Stellar ManagementLandlord

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

244046.15%

Cash-on-Cash

-69749.14%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93