LL Event Venue & Suites Leases Retail Space In South Harlem, Manhattan
28 East 125th Street
$26
$26/SF
Building Size
4,000 SF
Asset Type
Retail
Closing
Dec 1, 2023
About this deal
AI
The retail space located at 28 East 125th Street (Lower Level) in South Harlem, Manhattan has been leased. The property, measuring 4,000 square feet, was leased by LL Event Venue & Suites. The landlord for this transaction is Ben Nehmadi of Republic Investment Company. The brokers involved in this deal are Dane Harlowe and Alec Namdar of Meridian Capital Group.
Summary of Transaction Details
- Property Type: Retail
- Asking Rent: $26 per square foot
This lease transaction showcases the collaboration between LL Event Venue & Suites and their representatives, Dane Harlowe and Alec Namdar of Meridian Capital Group. With an asking rent of $26 per square foot, this retail space on East 125th Street presents an attractive opportunity for LL Event Venue & Suites to establish their business in South Harlem, Manhattan.
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
610115.38%
Cash-on-Cash
-174372.85%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93