David Lewis Art Gallery Leases Retail Space In East Hampton For $73/ft
53 The Circle, East Hampton, New York 11937, United States
Building Size
1,645 SF
Asset Type
Retail
Closing
Jan 1, 2022
AI
Located at 53 The Circle in East Hampton, this retail property has recently been leased. The property is owned by Elie Tahari and the tenant is the David Lewis Art Gallery. The lease transaction was facilitated by Joel Isaacs from Isaacs & Company Commercial Real Estate, who represented the tenant. The landlord, Elie Tahari, was represented by Jeremey Tahari, the Tahari Capital Managing Partner & Licensed Real Estate Salesperson for 9300 Realty. The lease was signed on January 1, 2022.
Summary of transation details
- Property Type: Retail
- Transaction Date: January 1, 2022
- Address: 53 The Circle, East Hampton
- Landlord: Elie Tahari
- Tenant: David Lewis Art Gallery
- Tenant's Representative: Joel Isaacs - Isaacs & Company Commercial Real Estate
- Landlord's Representative: Jeremey Tahari - Tahari Capital Managing Partner & Licensed Real Estate Salesperson for 9300 Realty
- Asking Rent: $73/ft.
- Square Footage: 1,645 SF
The lease of this retail property demonstrates the collaboration between Elie Tahari and David Lewis Art Gallery. Joel Isaacs from Isaacs & Company Commercial Real Estate represented the tenant, while Jeremey Tahari, the Tahari Capital Managing Partner & Licensed Real Estate Salesperson for 9300 Realty, represented the landlord. This lease agreement marks an important milestone for both parties involved.
Players
East Hampton 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