FourFourSouthVillageNYC Leases Retail Space At 11 East 7th Street, East Village With Landlord Icon Realty And Tenant Rep Jeff Zheng
11 East 7th Street, Manhattan, New York, NY, USA
Building Size
2,400 SF
Asset Type
Retail
Closing
Jan 14, 2021
AI
The property involved in this transaction is a retail asset located at 11 East 7th Street in the East Village market. The space encompasses 2,400 square feet with an asking rent of $170 per foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $170/ft.
- Address: 11 East 7th Street
- Market: East Village
- Tenant: @FourFourSouthVillageNYC
- Landlord: @IconRealty
- Brokers: Jeff Zheng @ElmekiesEquities
- Space Size: 2,400 SF
Jeff Zheng from Elmekies Equities has represented the landlord in this transaction. The brokerage team is focused on finding opportunities to represent landlords in retail spaces, actively negotiating with potential retail tenants. Additional team members include Edmund Beyda, who can also be contacted for inquiries regarding vacancies.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93