Building Efficiency Services Leases Retail Space At 701 West 135th Street For $60/ft
701 West 135th Street
$60
$60/SF
Building Size
19,000 SF
Asset Type
Retail
Closing
Feb 10, 2026
AI
The property asset involved in this transaction is a retail space located at 701 West 135th Street in Hamilton Heights. The property features a total square footage of 19,000 and is leased at an asking rent of $60 per square foot. The lease type is classified as a Single Net Lease.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 701 West 135th Street
- Market: Hamilton Heights
- Landlord: Rick Serrapica - Castellan Real Estate Partners
- Tenant: Building Efficiency Services
- Brokers: John Roesch & Griffin Hanes - Meridian Capital Group
- Lease Type: Single Net Lease
- Square Footage: 19,000
- Asking Rent: $60/ft
The key individuals and companies involved in the transaction include Rick Serrapica representing the landlord Castellan Real Estate Partners, and Building Efficiency Services as the tenant. John Roesch and Griffin Hanes from Meridian Capital Group acted as the brokers for this lease agreement. Additionally, it is noted that the lease encompasses the full building and includes a billboard lease.
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
264383.33%
Cash-on-Cash
-75561.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93