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2487 Broadway

Updated Dec 4, 2024

Excellence Barber Shop 3 Leases Retail Space In Upper West Side For $190/sf
LEASEDRetail

Excellence Barber Shop 3 Leases Retail Space In Upper West Side For $190/sf

2487 Broadway

$190

$190/SF

Building Size

430 SF

Asset Type

Retail

Closing

Oct 25, 2023

About this deal

AI

The retail property located at 2487 Broadway on the Upper West Side has been leased. The asset, spanning 430 square feet, was leased by Excellence Barber Shop 3. The landlord in this transaction was Ariel Feldhamer of Lightstone. The tenant's representative was Noam Aziz of Meridian Capital Group, while the landlord's representatives were David Green, David Sabbagh, and Ike Bibi of KSR. The asking rent for the property was $190 per square foot.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Lease
  • Date: 10/25/2023
  • Address: 2487 Broadway
  • Market: Upper West Side
  • Landlord: Ariel Feldhamer - Lightstone
  • Tenant: Excellence Barber Shop 3
  • Landlord's Rep: David Green, David Sabbagh, & Ike Bibi - KSR
  • Tenant's Rep: Noam Aziz - Meridian Capital Group
  • Asking Rent: $190/ft
  • Square Footage: 430

In this lease transaction, the tenant's representative Noam Aziz of Meridian Capital Group played a key role in securing the deal for Excellence Barber Shop 3. On the other side, the landlord's representatives David Green, David Sabbagh, and Ike Bibi of KSR facilitated the lease agreement on behalf of Ariel Feldhamer of Lightstone.

On the Map

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$190

$190/SF

Retail

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Players

David Sabbagh

Kassin Sabbagh Realty

Broker

64 deals

Broker
Lightstone Group
Lightstone GroupLender
Ariel Feldhammer

Ariel Feldhammer

Lightstone Group

Landlord

4 deals

Landlord
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New York Retail Market Snapshot

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Deal FAQ

About $190 per square foot on a published $190 for 430 square feet (2023).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

83489.47%

Cash-on-Cash

-23861.55%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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