Jay Newhouse Leases Retail Space To Purple Apple At 547 Malcolm X Boulevard In Manhattan
547 Malcolm X Boulevard
$80
$80/SF
Building Size
1,500 SF
Asset Type
Retail
Closing
Jan 10, 2025
About this deal
AI
The asset involved in this transaction is a retail space located at 547 Malcolm X Boulevard in Manhattan. The property features a square footage of 1,500 and is under a Single Net Lease agreement. The asking rent for this retail space has been set at $96 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $96/ft
- Address: 547 Malcolm X Boulevard
- Market: Manhattan
- Landlord: Jay Newhouse
- Tenant: Purple Apple
- Landlord's Representative: Dane Harlowe & Noam Aziz - Meridian Capital Group
- Tenant's Representative: Barry Fishbach - KSR
- Lease Type: Single Net Lease
The deal showcases the collaboration between the landlord, Jay Newhouse, and the tenant, Purple Apple, facilitated through their respective representatives. Dane Harlowe and Noam Aziz from Meridian Capital Group represented the landlord, while Barry Fishbach from KSR represented the tenant in this lease agreement.
On the Map
$80
$80/SF
Retail
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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
198287.50%
Cash-on-Cash
-56671.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93