Eternity Dermatology Leases Retail Space In Lower East Side
99 Bowery
$85
$85/SF
Building Size
2,200 SF
Asset Type
Retail
Closing
Jan 15, 2024
AI
The retail property located at 99 Bowery in the Lower East Side, Manhattan was leased to Eternity Dermatology. The deal was facilitated by brokers Aaron Shirazi and Jared Minc from Building Equity Management. The lease was a Full-Service Gross agreement with an asking rent of $97 per square foot for a total space of 2,200 square feet. The lease term extends for 10 years.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 99 Bowery
- Market: Lower East Side, Manhattan
- Landlord: Building Equity Management
- Tenant: Eternity Dermatology
Aaron Shirazi and Jared Minc of Building Equity Management acted as the representatives for the landlord in this leasing transaction at 99 Bowery. The agreement, valued at $97 per square foot, brings Eternity Dermatology as the new tenant for the retail space, solidifying a 10-year commitment in this bustling Lower East Side market.
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
186623.53%
Cash-on-Cash
-53337.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93