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323 East 108th Street

Penda Styles Leases Retail Space At 323 East 108th Street From Landlord Jeremey Tahari
LEASEDRetail

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:

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

Dane Harlowe

Meridian Capital Group

Broker

$1.8M

vol

68 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

223422.54%

Cash-on-Cash

-63854.85%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93