PunchPedal Fitness Leases Retail Space In Flatiron From Moinian Group
12 East 18th Street, New York, NY, USA
Building Size
2,040 SF
Asset Type
Retail
Closing
Jan 31, 2021
About this deal
AI
The retail space located at 12 East 18th Street in the Flatiron market has been leased. The tenant, PunchPedal Fitness, has entered into a lease agreement with the landlord, Moinian Group. The lease transaction was facilitated by brokers David Green of DavidSTGreen and Kassin Sabbagh Realty. The asking rent for the space was $140 per square foot. The total square footage of the retail space is 2,040 square feet.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Lease
- Date: 02/01/2021
- Address: 12 East 18th Street
- Market: Flatiron
This transaction showcases the collaboration between PunchPedal Fitness, as the tenant, and Moinian Group, as the landlord. PunchPedal Fitness will now be able to operate their fitness business in this retail space. David Green of DavidSTGreen and Kassin Sabbagh Realty assisted in finalizing the lease agreement, ensuring a successful deal for both parties involved.
Players
Huntington Station 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93