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1058 3rd Avenue

Wright Palmer's The Beekman Partnership Leases Retail Space To Pro-Pro Nails In Lenox Hill
LEASEDRetail

Wright Palmer's The Beekman Partnership Leases Retail Space To Pro-Pro Nails In Lenox Hill

1058 3rd Avenue

$199

$199/SF

Building Size

1,532 SF

Asset Type

Retail

Closing

Jan 10, 2025

AI

The retail asset located at 1058 3rd Avenue in Lenox Hill, Manhattan features a total square footage of 1,532. The property is leased under a Modified Gross Lease with an asking rent of $199 per square foot.

Summary of transaction details:

This transaction involved notable industry professionals, including the representatives from both the landlord and tenant sides. Robin Abrams, Rebecca Olshan, and Nick Zilkha represented the landlord, while Kevin Bisconti and Benjamin Zone acted as the tenant's representatives, ensuring the terms of the lease were effectively negotiated.

Players

Kevin Bisconti

Meridian Capital Group

Broker

50 deals

Broker

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

79713.57%

Cash-on-Cash

-22782.38%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93