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:
- Property Type: Retail
- Transaction Amount: $102/ft
- Landlord: Sean Lavin - Townhouse Property Group
- Tenant: Funny Pets NYC
- Landlord's Representative: James Famularo, Jacob Mayer, Cole Kleppinger & Daniel Sharga - Meridian Capital Group
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
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