Rodney Propp & Joe Milone Lease Retail Space To Axis Project At 118 East 108th Street
118 East 108th Street
$42
$42/SF
Building Size
5,000 SF
Asset Type
Retail
Closing
Oct 13, 2025
AI
The property asset involved in this transaction is located at 118 East 108th Street in Manhattan. The asset type is retail, and it encompasses a total square footage of 5,000. The asking rent for this space is $42 per square foot, structured under a Single Net Lease arrangement.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $210,000
- Address: 118 East 108th Street
- Market: Manhattan
- Landlord: Rodney Propp & Joe Milone
- Tenant: Axis Project
- Landlord's Representative: Moshe Akiva - Tri State Commercial Realty
- Brokers: Noam Aziz, Cory Rywalt & Ariel Ilian - Meridian Capital Group
The deal features notable individuals from both sides, with Moshe Akiva representing the landlords through Tri State Commercial Realty. The brokers involved in facilitating the lease are Noam Aziz, Cory Rywalt, and Ariel Ilian, all from Meridian Capital Group, highlighting a collaboration of expertise in the transaction.
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
377690.48%
Cash-on-Cash
-107945.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93