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255 Canal Street, New York ...

La Verde Group Leases Retail Space In Soho At 255 Canal Street
LEASEDRetail

La Verde Group Leases Retail Space In Soho At 255 Canal Street

255 Canal Street, New York City, New York 10013, United States

Building Size

1,000 SF

Asset Type

Retail

Closing

Mar 10, 2022

AI

Located in Soho, the retail property at 255 Canal Street has recently been leased. The lease was facilitated by Ben Howard and Ben Biberaj from Meridian Retail Leasing on behalf of the landlord Verv Capital and the tenant La Verde Group. The lease was signed on March 11, 2022.

Summary of transaction details

  • Property Type: Retail
  • Transaction Date: 03/11/2022
  • Address: 255 Canal Street
  • Market: Soho
  • Landlord: Verv Capital
  • Tenant: La Verde Group
  • Brokers: Ben Howard & Ben Biberaj - Meridian Retail Leasing
  • Asking Rent: $300/ft.
  • SF: 1,000

The signing of the lease on 255 Canal Street was a collaborative effort between Ben Howard and Ben Biberaj, representatives from Meridian Retail Leasing. This transaction demonstrates the successful negotiation between the landlord, Verv Capital, and the tenant, La Verde Group. The terms of the lease included an asking rent of $300 per square foot for an area totaling 1,000 square feet.

Players

Ben Biberaj

IPRG Retail Leasing

Broker

$26.2M

vol

192 deals

Broker
VC
Verv CapitalLandlord

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93