Empire Soul Food Restaurant And Donuts Leases Retail Space In Harlem, Manhattan
$120
$120/SF
Building Size
1,500 SF
Asset Type
Retail
Closing
Dec 28, 2023
AI
The retail space located at 547 Lenox Avenue Space A in Harlem, Manhattan has been leased. The tenant, Empire Soul Food Restaurant and Donuts, will be occupying the space. The lease was brokered by Noam Aziz and Dane Harlowe from Meridian Capital Group. The asking rent for the 1,500 square foot space was $120 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Leased
- Address: 547 Lenox Avenue Space A
- Market: Harlem, Manhattan
- Tenant: Empire Soul Food Restaurant and Donuts
- Brokers: Noam Aziz & Dane Harlowe - Meridian Capital Group
- Asking Rent: $120/ft
- Square Footage: 1,500
- Lease Type: Retail Lease
Yechiel Newhouse is the landlord of the property. This lease transaction provides an opportunity for Empire Soul Food Restaurant and Donuts to establish their business in a prominent location in Harlem, Manhattan.
Players
Market 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
132191.67%
Cash-on-Cash
-37780.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93