Primola Leases Mixed-Use Space At 1226 2nd Avenue In Upper East Side For $223/ft
1226 2nd Avenue
$223
$223/SF
Building Size
2,200 SF
Asset Type
Mixed-use
Closing
Jul 6, 2025
About this deal
AI
This mixed-use asset, located at 1226 2nd Avenue in the Upper East Side market, encompasses a total square footage of 2,200. The asking rent for this property is set at $223 per square foot. The lease term established for this asset is 8 years, with a Double Net Lease structure in place.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $223/ft
- Square Footage: 2,200
- Lease Term: 8 Years
- Lease Type: Double Net Lease
- Landlord: SUR Group
- Tenant: Primola
- Broker: Sachin Surujpaul - JRS Realty Management
Sachin Surujpaul from JRS Realty Management represented the landlord, SUR Group, in this lease transaction involving tenant Primola. The agreement highlights the engagement between these entities within the commercial real estate market.
On the Map
$223
$223/SF
Mixed-use
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New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
71134.53%
Cash-on-Cash
-20330.47%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93