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1159 1st Ave. New York, NY ...

Sunshine Laser Center Leases Retail Space At 1159 1st Avenue On Upper East Side
LEASEDRetail

Sunshine Laser Center Leases Retail Space At 1159 1st Avenue On Upper East Side

1159 1st Ave. New York, NY 10065, USA

$140

$140/SF

Building Size

3,470 SF

Asset Type

Retail

Closing

Jul 11, 2023

AI

A retail property located at 1159 1st Avenue in the Upper East Side has recently been leased. The property, measuring 3,470 square feet, was leased by Sunshine Laser Center. The landlord of this retail space is Sylvie Durham. The lease deal was facilitated by brokers Claude Kolb of KSR and Zev Sonkin, Robin Abrams, and Rebecca Olshan of Compass. The asking rent for the property was $140 per square foot.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Leased
  • Address: 1159 1st Avenue, Upper East Side
  • Tenant: Sunshine Laser Center
  • Landlord: Sylvie Durham
  • Brokers: Claude Kolb - KSR; Zev Sonkin, Robin Abrams, and Rebecca Olshan - Compass
  • Asking Rent: $140 per square foot
  • Square Footage: 3,470

The leasing of the retail space at 1159 1st Avenue in the Upper East Side was handled by the team of brokers consisting of Claude Kolb from KSR and Zev Sonkin, Robin Abrams, and Rebecca Olshan from Compass. This deal brings Sunshine Laser Center as the new tenant in the property, which is owned by Sylvie Durham. With an asking rent of $140 per square foot, this lease transaction signifies the continued demand for retail spaces in the Upper East Side market.

Players

Claude Kolb

Lee & Associates

Broker

40 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

113307.14%

Cash-on-Cash

-32383.53%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93