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88 Fulton Street

Updated Oct 29, 2024

Poulette Leases Retail Space At 88 Fulton Street In Manhattan
LEASEDRetail

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

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

Ben Biberaj

IPRG Retail Leasing

Broker

$26.2M

vol

204 deals

Broker

New York Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

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Deal FAQ

About $100 per square foot on a published $100 for 1,200 square feet (2022).

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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

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