Farshab Shaban Leases Retail Space At 54 Pine Street To Ali Elfgeeh Deli In Financial District
54 Pine Street
$72
$72/SF
Building Size
3,000 SF
Asset Type
Retail
Closing
Oct 14, 2024
AI
The retail asset located at 54 Pine Street in the Financial District features a total area of 3,000 square feet, contributing to its market presence. The landlord for this lease transaction is Farshab Shaban, while the tenant is Ali Elfgeeh Deli. The lease type agreed upon is a Modified Gross Lease with an asking rent set at $72 per square foot.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $72/ft
- Square Footage: 3,000
- Address: 54 Pine Street
- Market: Financial District
- Landlord: Farshab Shaban
- Tenant: Ali Elfgeeh Deli
- Brokers: James Famularo, Jacob Mayer & Sara Lamstein - Meridian Capital Group
- Lease Type: Modified Gross Lease
The brokers involved in facilitating this lease transaction include James Famularo, Jacob Mayer, and Sara Lamstein, all representing Meridian Capital Group. Their participation underscores the collaborative effort in securing the lease agreement between the landlord and tenant.
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
220319.44%
Cash-on-Cash
-62967.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93