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28 Water Street

Paul Sohayegh Leases Retail Space At 28 Water Street To 28 Gourmet Corp In Financial District
LEASEDRetail

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

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:

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.

Players

Noam Aziz

Meridian Capital Group

Broker

$900K

vol

231 deals

Broker

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