Estee Lauder Leases Retail Space At 248 Elizabeth Street With Brokers Brandon Singer And Suzanne Bernstock
248 Elizabeth Street
$350
$350/SF
Building Size
5,100 SF
Asset Type
Retail
Closing
Oct 1, 2024
About this deal
AI
The property asset involved in the transaction is a retail space located at 248 Elizabeth Street in the Nolita market. The asking rent for the space is $350 per square foot, and it encompasses a total area of 5,100 square feet. The lease agreement established is a long-term modified gross lease.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $350/ft
- Lease Term: Long Term
- Lease Type: Modified Gross Lease
- Landlord: Rami Ben
- Tenant: Estee Lauder - Deciem Avestan
- Brokers: Brandon Singer & Suzanne Bernstock - Retail By Mona
The key individuals involved in this deal include the landlord Rami Ben, the tenant Estee Lauder represented by Deciem Avestan, and the brokers Brandon Singer and Suzanne Bernstock from Retail By Mona, indicating the collaborative effort of multiple professionals in securing this lease transaction.
On the Map
$350
$350/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
45322.86%
Cash-on-Cash
-12953.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93