Unapologetic Foods Leases 3,600 Square Feet Retail Space At 107 1st Avenue For $22,500/month
107 1st Avenue
Building Size
3,600 SF
Asset Type
Retail
Closing
Jul 15, 2024
About this deal
AI
The property asset involved in this transaction is a retail space located at 107 1st Avenue in the East Village, Manhattan. The asking rent for this 3,600-square-foot space is set at $22,500 per month, with the lease term negotiated for 10 years.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $22,500/month
- Lease Term: 10 years
- Address: 107 1st Avenue
- Market: East Village, Manhattan
- Landlord: Lawrence Movtady
- Tenant: Unapologetic Foods
- Landlord's Representative: Aaron Gavios - Gavios Realty Group
- Tenant's Representatives: Albert Halawani & Matthew Fogel - KSR
Unapologetic Foods, a tenant in this transaction, has secured a lease that includes a five-year renewal option, marking the expansion of their Indian dining concept, Adda, into the Manhattan area.
On the Map
Retail
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
705.02%
Cash-on-Cash
-201.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93