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244 E Houston St, New York,...

Better Living Properties Acquires Retail Space On Lower East Side For $17,000 Per Month
LEASEDRetail

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

Isaac Bijou

MOD

Broker

$1.4M

vol

39 deals

Broker

Jonathan Soudry

Better Living Properties

Landlord

$165M

vol

6 deals

Landlord
BP
Better Living PropertiesLandlord

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