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99 University Place, New Yo...

Updated Oct 28, 2024

Shift Wellness Leases Retail Space At 99 University In Union Square With Landlord Bijan Royal
LEASEDRetail

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

About this deal

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.

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Players

Ben Biberaj

IPRG Retail Leasing

Broker

$26.2M

vol

213 deals

Broker
BR
Bijan RoyalLandlord
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New York Retail Market Snapshot

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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

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