David Belsky Of Fridberg Realty Company Leases Retail Space To Smelly Nelly In Chinatown
70 Canal Street
$156
$156/SF
Building Size
2,000 SF
Asset Type
Retail
Closing
Oct 21, 2024
AI
The property involved in this transaction is a retail asset located at 70 Canal Street in the Chinatown market. The lease agreement was established for a space of 2,000 square feet at an asking rent of $156 per square foot, structured as a Modified Gross Lease.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $312,000
- Address: 70 Canal Street
- Market: Chinatown
- Landlord: David Belsky - Fridberg Realty Company
- Tenant: Smelly Nelly
- Landlord's Representative: Kevin Bisconti - Meridian Capital Group
- Tenant's Representative: Abe Smouha - RJB Real Estate
Key individuals involved in this deal include David Belsky representing Fridberg Realty Company as the landlord and Smelly Nelly as the tenant, with representation from Kevin Bisconti and Abe Smouha, respectively. They played critical roles in reaching this 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
101685.90%
Cash-on-Cash
-29062.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93