Penda Styles Leases Retail Space At 323 East 108th Street From Landlord Jeremey Tahari
323 East 108th Street
$71
$71/SF
Building Size
760 SF
Asset Type
Retail
Closing
Jan 8, 2025
AI
The property asset involved in this transaction is a retail space located at 323 East 108th Street, in the East Harlem market. The asking rent for the space is $71 per square foot, and it encompasses a total area of 760 square feet. The lease type for this transaction is a Modified Gross Lease.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $71/ft
- Square Footage: 760
- Address: 323 East 108th Street
- Market: East Harlem
- Landlord: Jeremey Tahari
- Tenant: Penda Styles, NDAs Exotic Collection
- Brokers: Alec Namdar, Dane Harlowe, Ariel Ilian, Nathan Shabot, and Noam Aziz - Meridian Capital Group
The deal features notable representatives from Meridian Capital Group, including Alec Namdar, Dane Harlowe, Ariel Ilian, Nathan Shabot, and Noam Aziz, who played integral roles in facilitating this lease agreement between the landlord, Jeremey Tahari, and the tenant, Penda Styles, NDAs Exotic Collection.
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
223422.54%
Cash-on-Cash
-63854.85%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93