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421 2nd Ave, New York, NY 1...

421 Convenience Corp Leases Space A At 421 Second Avenue In Gramercy For $108/ft
LEASEDOther

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

Eliot Goldschmidt

Masonre

Broker

$17.3M

vol

11 deals

Broker

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