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25 Prince Street

Elliot Sohayegh Leases Retail Space To Heavenly Market At 25 Prince Street In Manhattan
LEASEDRetail

Elliot Sohayegh Leases Retail Space To Heavenly Market At 25 Prince Street In Manhattan

25 Prince Street

$352

$352/SF

Building Size

1,300 SF

Asset Type

Retail

Closing

Oct 1, 2024

AI

The retail property located at 25 Prince Street in Manhattan has a lease term of 10 years under a Modified Gross Lease. The asking rent is set at $352 per square foot, covering a total area of 1,300 square feet.

Summary of transaction details:

This lease transaction features representatives from both sides, with Steven Evans and Joseph Zalta representing the landlord through Platinum Properties, and Richard Bailey and Steve Costello serving as the tenant's representatives from RJBRE.

Players

Richard Bailey

RJBRE

Broker

14 deals

Broker

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

45065.34%

Cash-on-Cash

-12879.81%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93