Better Living Properties Acquires Retail Space On Lower East Side For $17,000 Per Month
244 E Houston St, New York, NY 10002, USA
Building Size
15,600 SF
Asset Type
Retail
Closing
Feb 18, 2020
AI
244 East Houston Street in the Lower East Side of New York City has been involved in a recent closed transaction. The property is a retail space with a total square footage of 1,560. The landlord, Better Living Properties represented by Ariel & Jonathan Soudry, leased the space to the tenant, @29Monroe. The tenant's representative is Mike Peguero from Zelnik & Co, while the landlord's representatives are James Famularo and Isaac Bijou from Meridian Capital Group. The agreed-upon rent for the space was $17,000, resulting in a price per square foot of $130.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $17,000
- Address: 244 East Houston Street
- Size: 1,560 square feet
- Market: Lower East Side
Notable individuals involved in this deal include the tenant's representative, Mike Peguero from Zelnik & Co, and the landlord's representatives, James Famularo and Isaac Bijou from Meridian Capital Group. These individuals played a significant role in negotiating and finalizing the lease agreement for the retail space at 244 East Houston Street.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93