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25 Prince St New York, NY 1...

Platinum Properties Brokers Secure 10-Year Lease For Retail Space At 25 Prince Street In New York City
LEASEDRetail

Platinum Properties Brokers Secure 10-Year Lease For Retail Space At 25 Prince Street In New York City

25 Prince St New York, NY 10012, USA

$325

$325/SF

Building Size

1,300 SF

Asset Type

Retail

Closing

Jun 1, 2023

AI

Located at 25 Prince Street in New York City, a 1,300 square foot retail space is available for lease. The property is being offered by landlord, Elliot Sohayegh, with Steven Evans and Joseph Zalta of Platinum Properties representing the deal. The asking rent for the space is $325 per square foot, and the lease term is set for 10 years.

Summary of transation details

  • Property Type: Retail
  • Transaction Amount: Lease
  • Address: 25 Prince Street
  • Market: New York City

Steven Evans and Joseph Zalta from Platinum Properties are the brokers involved in this lease transaction. They are working on behalf of the landlord, Elliot Sohayegh, to secure a tenant for the retail space. With their expertise in the New York City market, they are well-positioned to negotiate favorable lease terms for the landlord.

Players

Steven Evans

Platinum Commercial

Broker

$36.1M

vol

47 deals

Broker
Elliot Sohayegh

Elliot Sohayegh

Landlord

$66.5M

vol

10 deals

Landlord

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

48809.23%

Cash-on-Cash

-13949.83%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93