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1144 2nd Avenue

Sean Lavin Of Townhouse Property Group Leases Retail Space To Funny Pets NYC In Lenox Hill
LEASEDRetail

Sean Lavin Of Townhouse Property Group Leases Retail Space To Funny Pets NYC In Lenox Hill

1144 2nd Avenue

$102

$102/SF

Building Size

1,400 SF

Asset Type

Retail

Closing

Oct 1, 2024

AI

The retail property located at 1144 2nd Avenue in the Lenox Hill market of Manhattan has been leased at an asking rent of $102 per square foot, covering a total space of 1,400 square feet. The lease type is a Modified Gross Lease.

Summary of transaction details:

This transaction reflects the collaborative efforts of the representatives from Meridian Capital Group, specifically James Famularo, Jacob Mayer, Cole Kleppinger, and Daniel Sharga, who facilitated the lease agreement between the landlord and tenant, ensuring a successful negotiation process.

Players

James Famularo

Meridian Capital Group

Broker

$11.4M

vol

368 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

155519.61%

Cash-on-Cash

-44447.98%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93