Paul Sohayegh Leases Retail Space At 28 Water Street To 28 Gourmet Corp In Financial District
28 Water Street
$210
$210/SF
Building Size
800 SF
Asset Type
Retail
Closing
Feb 13, 2025
About this deal
AI
The retail asset located at 28 Water Street in the Financial District encompasses a total area of 800 square feet with an asking rent of $210 per square foot. The lease type for this transaction is a Modified Gross Lease.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $210/ft
- Address: 28 Water Street
- Market: Financial District
- Landlord: Paul Sohayegh
- Tenant: 28 Gourmet Corp.
- Brokers: Noam Aziz & Carson Shahrabani - Meridian Capital Group
Noam Aziz and Carson Shahrabani, representing Meridian Capital Group, facilitated this lease transaction. They were instrumental in connecting the landlord Paul Sohayegh with the tenant 28 Gourmet Corp.
On the Map
$210
$210/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
75538.10%
Cash-on-Cash
-21589.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93