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118 East 108th Street

Rodney Propp & Joe Milone Lease Retail Space To Axis Project At 118 East 108th Street
LEASEDRetail

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

Moshe Akiva

Momentum Realty Group

Broker

$3.3M

vol

24 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

377690.48%

Cash-on-Cash

-107945.10%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93