Music Studio Leases Retail Space At 6 St. Marks Place In East Village
6 Saint Mark's Place, New York City, New York 10003, United States
Building Size
5,000 SF
Asset Type
Retail
Closing
Mar 31, 2022
About this deal
AI
Located in the East Village at 6 St. Marks Place, this retail property has recently been leased. The transaction took place on April 1, 2022. Covering a total of 5,000 square feet, the space is ideal for a music studio. The leasing process was facilitated by John Roesch and Kevin Bisconti from Meridian Retail Leasing, who served as the tenant's representatives. On the landlord's side, Oxford Property Group provided representation.
Summary of transaction details
- Property Type: Retail
- Address: 6 St. Marks Place
- Market: East Village
- Tenant: Music Studio
- Tenant's Rep: John Roesch & Kevin Bisconti - Meridian Retail Leasing
- Landlord's Rep: Oxford Property Group
- Asking Rent: $43/ft.
- Square Footage: 5,000
The successful lease of this retail property was made possible by the efforts of John Roesch and Kevin Bisconti from Meridian Retail Leasing, who represented the tenant, a music studio. The landlord, Oxford Property Group, entrusted their property to this dynamic duo, ensuring a mutually-beneficial agreement for all parties involved.
Players
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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