Mazi Hospitality Group Corp. Leases Retail Space From John Kalas In Midtown East Manhattan
1066 2nd Avenue
$252
$252/SF
Building Size
1,000 SF
Asset Type
Retail
Closing
Sep 27, 2024
AI
The property involved in the transaction is a retail asset located at 1066 2nd Avenue in Midtown East, Manhattan. The property has a total square footage of 1,000 and has an asking rent of $252 per square foot, structured as a retail lease.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $252/ft
- Address: 1066 2nd Avenue
- Market: Midtown East, Manhattan
- Landlord: John Kalas - JJNK corp
- Tenant: Mazi Hospitality Group Corp.
- Landlord's Representative: Emilian Derguti - Capstone Properties
- Tenant's Representative: James Famularo - Meridian Capital Group
The leasing transaction was facilitated by John Kalas representing the landlord, JJNK corp, and Mazi Hospitality Group Corp. as the tenant. Emilian Derguti and James Famularo played pivotal roles as representatives of their respective parties, ensuring the successful execution of the lease agreement.
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
62948.41%
Cash-on-Cash
-17990.85%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93