Up Thai Signs Lease For Retail Space In Union Square
88 University Place, New York, NY, USA
Building Size
5,000 SF
Asset Type
Retail
Closing
Jun 22, 2020
About this deal
AI
A retail space located at 88 University Place in Union Square, New York has been leased. The property is owned by Mark Lapidus and was represented by @WinickRealty. The tenant, Up Thai, was represented by James Famularo and Yoni Hadar from Meridian Retail Leasing. The lease was completed on June 22, 2021.
Summary of transaction details
- Property Type: Retail
- Transaction Date: 06/22/2021
- Address: 88 University Place
- Market: Union Square
The leasing deal for the retail space in Union Square was facilitated by James Famularo and Yoni Hadar from Meridian Retail Leasing, representing the tenant, Up Thai. Mark Lapidus, the owner of the property, was represented by @WinickRealty. The asking rent for the 5,000 square-foot space was $161 per square foot.
On the Map
Retail
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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