Poulette Leases Retail Space At 88 Fulton Street In Manhattan
88 Fulton Street
$100
$100/SF
Building Size
1,200 SF
Asset Type
Retail
Closing
Sep 12, 2022
About this deal
AI
Located at 88 Fulton Street in Manhattan, this retail property was recently leased to Poulette. The deal was facilitated by Ravi Idnani and Ariel Schuster of Newmark, who represented the tenant, and Ben Biberaj and Elliot Wygoda of Meridian Retail Leasing, who represented the landlord. The leasing transaction took place on September 12, 2022.
Summary of transaction details
- Property Type: Retail
- Tenant: Poulette
- Tenant's Representative: Ravi Idnani & Ariel Schuster - Newmark
- Landlord's Representative: Ben Biberaj & Elliot Wygoda - Meridian Retail Leasing
- Address: 88 Fulton Street
- Market: Manhattan
- Asking Rent: $100/ft.
- Square Footage: 1,200 sq. ft.
Ravi Idnani and Ariel Schuster of Newmark worked alongside Poulette as their representatives throughout the lease negotiation process. On the other side, Ben Biberaj and Elliot Wygoda, part of Meridian Retail Leasing, served as the landlord's representatives for the property. The lease agreement for the 1,200 square feet retail space was finalized, with an asking rent of $100 per square foot.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
158630.00%
Cash-on-Cash
-45336.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93