Shift Wellness Leases Retail Space At 99 University In Union Square With Landlord Bijan Royal
99 University Place, New York, NY 10003, USA
Building Size
4,000 SF
Asset Type
Retail
Closing
Jul 25, 2020
AI
Shift Wellness has leased a retail space located at 99 University in Union Square. The space has a total square footage of 4,000 and was leased at an asking rent of $80 per square foot. The lease transaction was completed on July 25, 2021. The landlord of the property is Bijan Royal, represented by Bijan Nassi. The leasing was facilitated by Ben Biberaj, Andrew Ingber, and James Famularo from Meridian Retail Leasing.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Leased at an asking rent of $80/ft
- Address: 99 University, Union Square
- Market: Union Square
Ben Biberaj, Andrew Ingber, and James Famularo from Meridian Retail Leasing played a crucial role in representing the tenant, Shift Wellness, in securing this lease deal at 99 University. The leasing was successfully negotiated between Shift Wellness and landlord Bijan Royal, represented by Bijan Nassi.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93