Ramen Restaurant Leases Retail Space In Chelsea Manhattan For $172/sf
104 8th Avenue
$172
$172/SF
Building Size
1,400 SF
Asset Type
Retail
Closing
Apr 15, 2024
AI
The retail property located at 104 8th Avenue in Chelsea, Manhattan, was leased for a total of 1,400 square feet at an asking rent of $172 per square foot. The landlord, Daniel Wrublin of Dalan Management, secured a lease with a Ramen Restaurant. The property was represented by Richard Skulnik, Lindsay Zegans, Ben Sabin, and Mary Schwagerl from Ripco on behalf of the landlord, while the tenant, Ramen Restaurant, was represented by Noam Aziz from Meridian Capital Group.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not provided
- Address: 104 8th Avenue
- Market: Chelsea, Manhattan
- Landlord: Daniel Wrublin - Dalan Management
- Tenant: Ramen Restaurant
- Landlord's Rep: Richard Skulnik, Lindsay Zegans, Ben Sabin & Mary Schwagerl - Ripco
- Tenant's Rep: Noam Aziz - Meridian Capital Group
- Asking Rent: $172/ft
- SF: 1,400
- Lease Type: Retail Lease
The deal involved key individuals such as Richard Skulnik, Lindsay Zegans, Ben Sabin, and Mary Schwagerl representing the landlord, Daniel Wrublin, on one side. On the other side, Noam Aziz represented the tenant, Ramen Restaurant, in the retail lease transaction. This lease agreement highlights the collaborative efforts of the landlord's representatives from Ripco and the tenant's representative from Meridian Capital Group in successfully securing the deal.
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
92226.74%
Cash-on-Cash
-26358.69%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93