421 Convenience Corp Leases Space A At 421 Second Avenue In Gramercy For $108/ft
421 2nd Ave, New York, NY 10010, Estados Unidos
Building Size
500 SF
Asset Type
Other
Closing
Aug 30, 2020
AI
421 Second Avenue (Space A) in Gramercy has recently been leased by 421 Convenience Corp. The lease transaction was facilitated by brokers James Famularo, Eliot Goldschmidt, and Joseph Harary from Meridian Capital Group. The asking rent for the space was $108 per square foot, with the total area measuring approximately 500 square feet.
Summary of transaction details
- Property Type: Lease
- Transaction Amount: Not specified
- Address: 421 Second Avenue (Space A)
- Market: Gramercy
- Asking Rent: $108 per square foot
- Square Footage: 500
The lease of 421 Second Avenue (Space A) was successfully negotiated by brokers James Famularo, Eliot Goldschmidt, and Joseph Harary from Meridian Capital Group, who represented the tenant, 421 Convenience Corp.
Players
New York Other Market Snapshot
Boundary boundary · Other · 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