356 Bowery Retail Space Leased By 356 Convenience Corp For $165/sq Ft
356 Bowery New York, NY 10012, USA
$165
$165/SF
Building Size
1,500 SF
Asset Type
Retail
Closing
Jun 23, 2023
AI
The recently completed lease transaction involves a retail property located at 356 Bowery in New York City. The asset, spanning approximately 1,500 square feet, was leased by 356 Convenience Corp. The landlord in this deal was Manhattan Five Partners, represented by Jeffrey Srulowitz. The tenant's representative was Jeff Jakob from Loch Real Estate. The leasing transaction was facilitated by John Roesch, representing the landlord's side, from Meridian Capital Group.
Summary of transaction details
- Property Type: Retail
- Address: 356 Bowery, New York City
- Market: New York City
- Landlord: Manhattan Five Partners - Jeffrey Srulowitz
- Tenant: 356 Convenience Corp
- Landlord's Representative: John Roesch - Meridian Capital Group
- Tenant's Representative: Jeff Jakob - Loch Real Estate
- Asking Rent: $165/ft
- Square Footage: 1,500
Notable individuals involved in this lease transaction include John Roesch, who represented the landlord's interests on behalf of the Meridian Capital Group. He worked alongside Jeffrey Srulowitz from Manhattan Five Partners. On the tenant's side, the leasing process was facilitated by Jeff Jakob from Loch Real Estate, representing 356 Convenience Corp.
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
96139.39%
Cash-on-Cash
-27476.93%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93