Taste Collection Leases Retail Space In Central Harlem
370 Lenox Avenue, Manhattan, New York, NY, USA
Building Size
630 SF
Asset Type
Retail
Closing
Oct 4, 2020
About this deal
AI
Located in Central Harlem, the retail space at 370 Lenox Avenue (Space 4) has been leased to Taste Collection. The property, owned by Renaissance Realty Group, was represented by brokers James Famularo, Dane Harlowe, and Robert Mulholland from Meridian Capital Group. The lease was signed on 10/05/2020.
Summary of transaction details
- Property Type: Retail
- Asking Rent: $114.29/ft.
- Square Footage: 630
- Tenant: Taste Collection
- Landlord: Renaissance Realty Group
- Brokers: James Famularo, Dane Harlowe, and Robert Mulholland - Meridian Capital Group
Taste Collection will now occupy the retail space on Lenox Avenue, providing a new shopping opportunity in Central Harlem. The deal was facilitated by the experienced team of James Famularo, Dane Harlowe, and Robert Mulholland from Meridian Capital Group.
Players
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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