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1760 2nd Avenue, New York C...

American Development Group Leases Retail Space To Optometry Group At 1760 2nd Avenue In New York City With Landlord's Rep Mark Tergesen & Cooper Katz From ABS Partners Real Estate
LEASEDRetail

American Development Group Leases Retail Space To Optometry Group At 1760 2nd Avenue In New York City With Landlord's Rep Mark Tergesen & Cooper Katz From ABS Partners Real Estate

1760 2nd Avenue, New York City, New York 10016, United States

$105

$105/SF

Building Size

1,840 SF

Asset Type

Retail

Closing

Oct 31, 2022

AI

The retail property located at 1760 2nd Avenue in New York City has recently been leased by Optometry Group. The lease term is set for 15 years, starting from the 31st of October 2022. The property, spanning approximately 1,840 square feet, was leased at an asking rent of $105 per square foot.

Summary of transation details

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Address: 1760 2nd Avenue
  • Market: New York City

The landlord for this lease transaction is American Development Group, represented by Mark Tergesen and Cooper Katz from ABS Partners Real Estate. On the other hand, Optometry Group was represented by Evan Gasman.

Players

Mark Tergesen

ABS Partners Real Estate

Broker

$4.3M

vol

15 deals

Broker
AG
American Development GroupLandlord
OG
Optometry GroupTenant

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

151076.19%

Cash-on-Cash

-43178.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93