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60 Pearl Street

Siya Healing Spa Leases Retail Space From Austen Rabbie At 60 Pearl Street Financial District
LEASEDRetail

Siya Healing Spa Leases Retail Space From Austen Rabbie At 60 Pearl Street Financial District

60 Pearl Street

$40

$40/SF

Building Size

1,300 SF

Asset Type

Retail

Closing

Nov 1, 2024

AI

The retail asset located at 60 Pearl Street in the Financial District is leased to Siya Healing Spa. The lease, structured as a Modified Gross Lease, encompasses a total square footage of 1,300 and an asking rent of $40 per square foot.

Summary of transaction details:

The brokers involved in this transaction include James Famularo, Bobby Ortense, Marcelo Demoraes, and Alec Namdar, representing the interests of both the landlord and tenant throughout the leasing process.

Players

James Famularo

Meridian Capital Group

Broker

$11.4M

vol

362 deals

Broker

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

396575.00%

Cash-on-Cash

-113342.35%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93