Stretch Lab Signs Lease For Retail Space At 332 West 57th Street In New York With Landlord's Rep Ben Howard & Ben Biberaj - Meridian Capital Group
332 West 57th Street
$120
$120/SF
Building Size
1,600 SF
Asset Type
Retail
Closing
Mar 27, 2023
AI
Heller Realty has leased out a retail space in New York located at 332 West 57th Street. The property, measuring 1,600 square feet, was leased to Stretch Lab. The deal was facilitated by Ben Howard and Ben Biberaj from Meridian Capital Group, serving as the landlord's representatives, and Emily Simmonds from Ripco, acting as the tenant's representative. The asking rent for the space was $120 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Lease
- Date: 03/27/2023
- Address: 332 West 57th Street
- Market: New York
- Landlord: Heller Realty
- Tenant: Stretch Lab
- Landlord's Rep: Ben Howard & Ben Biberaj - Meridian Capital Group
- Tenant's Rep: Emily Simmonds - Ripco
- Asking Rent: $120/ft
- Square Footage: 1,600
The lease deal was successfully negotiated by Ben Howard and Ben Biberaj from Meridian Capital Group, representing the landlord, Heller Realty. Emily Simmonds from Ripco represented the tenant, Stretch Lab. This transaction demonstrates the expertise and effectiveness of these professionals in securing deals in the New York retail market.
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
132191.67%
Cash-on-Cash
-37780.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93