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547 Lenox Avenue Space A

Empire Soul Food Restaurant And Donuts Leases Retail Space In Harlem, Manhattan
LEASEDRetail

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

Dane Harlowe

Meridian Capital Group

Broker

$1.8M

vol

68 deals

Broker

Yechiel Newhouse

Landlord

$50.9M

vol

5 deals

Landlord

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