V.H.I.O Leases 5,000 SF Retail Space To Tipsy Turtle And Others On 2nd Avenue
1003 2nd Avenue
$128
$128/SF
Building Size
5,000 SF
Asset Type
Retail
Closing
Aug 1, 2026
About this deal
AI
The retail property located at 1003 2nd Avenue in the Sutton Place market covers a total square footage of 5,000 and has been leased under a modified gross lease structure. The asking rent for this space was $128 per square foot, and the lease term agreed upon is for 10 years.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $128/ft
- Lease Term: 10 Years
- Lease Type: Modified Gross Lease
- Landlord: V.H.I.O
- Tenant: Tipsy Turtle, Portofino&Sundaze & Crystal Spa
- Brokers: Jonathan Goldberg & Krystina Cuesta Goldberg - Goldberg Property Advisors Team at Voro
The transaction highlights Voro Real Estate's successful lease of the entire building to three distinct tenants, showcasing a strategic approach in securing diverse rental agreements. This underscores the collaborative efforts of Jonathan Goldberg and Krystina Cuesta Goldberg in facilitating this deal for their client, V.H.I.O.
On the Map
$128
$128/SF
Retail
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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
123929.69%
Cash-on-Cash
-35419.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93