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
About this deal
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:
- Property Type: Retail
- Transaction Amount: $352/ft
- Lease Term: 10 Years
- Lease Type: Modified Gross Lease
- Landlord: Elliot Sohayegh
- Tenant: Heavenly Market
- Landlord's Representative: Steven Evans & Joseph Zalta - Platinum Properties
- Tenant's Representative: Richard Bailey & Steve Costello - RJBRE
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.
On the Map
$352
$352/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
45065.34%
Cash-on-Cash
-12879.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93