Fay's Shawarma Signs Lease At 2234 Adam Clayton Powell Junior Boulevard In Central Harlem
2234 Adam Clayton Powell Junior Boulevard
$66
$66/SF
Building Size
1,100 SF
Asset Type
Retail
Closing
Sep 25, 2024
AI
The property asset involved in the transaction is a retail space located at 2234 Adam Clayton Powell Junior Boulevard in Central Harlem. The space consists of approximately 1,100 square feet and is leased under a Modified Gross Lease agreement. The asking rent for this property was $66 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $73,600
- Landlord: Black Spruce Management
- Tenant: Fay's Shawarma
- Landlord's Representative: Aryeh Vilinsky - BH Realty
- Tenant's Representative: Justin Kamali - J3K Real Estate
The deal was facilitated with representation from Aryeh Vilinsky representing the landlord and Justin Kamali representing the tenant, showcasing the collaboration between the involved parties to finalize the lease agreement.
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
240348.48%
Cash-on-Cash
-68692.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93