Pandora Jewelry Leases Retail Space In Central Harlem From Centennial Properties With Meridian Retail Leasing As The Broker
354 Malcolm X Boulevard, Manhattan, New York, NY, USA
Building Size
1,200 SF
Asset Type
Retail
Closing
Apr 21, 2021
About this deal
AI
Centennial Properties has leased a retail space located at 354 Lenox Avenue in Central Harlem. The asset, spanning 1,200 square feet, is now occupied by Pandora Jewelry.
Summary of transaction details:
- Property Type: Retail
- Asking Rent: $100 per square foot
- Tenant: Pandora Jewelry
- Landlord: Centennial Properties
- Brokers: Dane Harlowe, Robert Mulholland, and James Famularo of Meridian Retail Leasing
- Date: April 22, 2021
- Market: Central Harlem
The lease agreement between Centennial Properties and Pandora Jewelry was facilitated by brokers Dane Harlowe, Robert Mulholland, and James Famularo from Meridian Retail Leasing.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93