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332 West 57th Street

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
LEASEDRetail

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

Ben Biberaj

IPRG Retail Leasing

Broker

$26.2M

vol

192 deals

Broker
Heller Realty
Heller RealtyLandlord

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