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264 West 124th Street

Abou Hair Salon Leases Retail Space In Harlem, Manhattan With Meridian Capital Group As Brokers
LEASEDRetail

Abou Hair Salon Leases Retail Space In Harlem, Manhattan With Meridian Capital Group As Brokers

264 West 124th Street

$60

$60/SF

Building Size

850 SF

Asset Type

Retail

Closing

Nov 17, 2023

AI

The retail property located at 264 West 124th Street in Harlem, Manhattan has been leased. The tenant, Abou Hair Salon, has signed a lease agreement with the landlord, Ben Ryu of Ryuco Management. The lease transaction was facilitated by James Famularo and Bobby Ortense of Meridian Capital Group.

Summary of transaction details

The deal was completed on and represents a successful lease agreement for the retail space. Both the landlord and tenant were represented by their respective brokers, James Famularo and Bobby Ortense. The leased property offers a prime location in Harlem, Manhattan, providing an attractive opportunity for Abou Hair Salon to establish their business in a bustling market.

Players

James Famularo

Meridian Capital Group

Broker

$11.4M

vol

362 deals

Broker

Ben Ryu

Landlord

$2.6M

vol

3 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

264383.33%

Cash-on-Cash

-75561.57%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93