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99 Bowery

Eternity Dermatology Leases Retail Space In Lower East Side
LEASEDRetail

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

Jared Minc

Building Equity Management

Broker

$148.9M

vol

20 deals

Broker

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