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4 West 21st Street

Removery Signs Lease For Retail Space At 4 W 21st Street In Flatiron
LEASEDRetail

Removery Signs Lease For Retail Space At 4 W 21st Street In Flatiron

4 West 21st Street

$115

$115/SF

Building Size

2,604 SF

Asset Type

Retail

Closing

Sep 28, 2022

AI

Removery has leased a retail space located at 4 W 21st Street in the Flatiron market. The leased space spans 2,604 square feet. The lease was negotiated by Ken Hochhauser from Winick Realty Group, representing Removery, and Carolina Aziz, Ike Bibi, and Maddy Soffer from KSR, representing the landlord, Ivan Hakimian. The asking rent for the space was $115 per square foot.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Lease
  • Address: 4 W 21st Street
  • Market: Flatiron
  • Tenant: Removery
  • Landlord: Ivan Hakimian
  • Tenant's Rep: Ken Hochhauser - Winick Realty Group
  • Landlord's Rep: Carolina Aziz, Ike Bibi, & Maddy Soffer - KSR
  • Asking Rent: $115/ft.
  • Square Footage: 2,604

The deal was successfully negotiated with the involvement of Ken Hochhauser from Winick Realty Group representing Removery, and Carolina Aziz, Ike Bibi, and Maddy Soffer from KSR representing the landlord, Ivan Hakimian. Removery will now be able to operate its business in the retail space located at 4 W 21st Street. This lease transaction highlights the collaborative efforts of the tenant's representative, Ken Hochhauser, and the landlord's representatives, Carolina Aziz, Ike Bibi, and Maddy Soffer.

Players

Ike Bibi

Kassin Sabbagh Realty

Broker

$274.3M

vol

125 deals

Broker

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

137939.13%

Cash-on-Cash

-39423.43%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93