Agile Learning Center Leases Retail Space At 5 East 111th Street In Harlem For $58/ft
5 East 111th Street
$58
$58/SF
Building Size
1,838 SF
Asset Type
Retail
Closing
Jul 23, 2025
AI
The property asset involved in this transaction is a retail space located at 5 East 111th Street in Harlem, Manhattan. This space has a total square footage of 1,838 and is part of a modified gross lease agreement with an asking rent of $58 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $58/ft
- Square Footage: 1,838
- Address: 5 East 111th Street
- Market: Harlem, Manhattan
- Landlord: Rodney Propp - Tahl Propp Equities
- Tenant: Agile Learning Center
- Landlord's Representative: Noam Aziz & Cory Rywalt - Meridian Capital Group
- Tenant's Representative: Ravi Idnani - Newmark
- Lease Type: Modified Gross Lease
This transaction involves key individuals and companies including Rodney Propp representing Tahl Propp Equities as the landlord, and Agile Learning Center as the tenant. Noam Aziz and Cory Rywalt from Meridian Capital Group represented the landlord, while Ravi Idnani from Newmark represented the tenant in this deal.
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
273500.00%
Cash-on-Cash
-78167.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93