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77 Mercer Street, New York ...

Allouche Gallery Leases Retail Space At 77 Mercer Street In SoHo
LEASEDRetail

Allouche Gallery Leases Retail Space At 77 Mercer Street In SoHo

77 Mercer Street, New York City, New York 10012, United States

Building Size

2,500 SF

Asset Type

Retail

Closing

Feb 21, 2022

AI

The retail space at 77 Mercer Street in SoHo has been leased to Allouche Gallery. The property, consisting of 2,500 square feet, was leased by Robert Burke to Allouche Gallery. The deal was facilitated by Solomon Michailow and Tess Jacoby of JLL. The asking rent for the space was $200 per square foot.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not provided
  • Date: 02/22/2022
  • Address: 77 Mercer Street
  • Market: SoHo

The lease agreement for the retail space at 77 Mercer Street in SoHo was brokered by Solomon Michailow and Tess Jacoby of JLL, who represented Allouche Gallery in the deal. Robert Burke served as the landlord in this transaction.

Players

Solomon Michailow

S2 Property Group

Broker

$198.9M

vol

13 deals

Broker
JLL
JLLBrokerage

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93