NUNUNU Leases Retail Space At 1228 Madison Avenue On Upper East Side
1228 Madison Avenue
$170
$170/SF
Building Size
2,543 SF
Asset Type
Retail
Closing
Dec 5, 2023
AI
A retail space located at 1228 Madison Avenue in the Upper East Side of New York City has been leased. The property, measuring 2,543 square feet, was leased to the tenant NUNUNU. The lease transaction was facilitated by Arel Capital and SK Development, who served as the landlords. The asking rent for the space was approximately $170 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Lease
- Address: 1228 Madison Avenue
- Market: Upper East Side
- Tenant: NUNUNU
- Landlord: Arel Capital & SK Development
- Landlord's Representatives: Carolina Aziz, Maddy Soffer, and Ike Bibi - KSR
- Tenant's Representatives: Dorel Melloul and Albert Manopla - KSR
The lease deal was facilitated by KSR on behalf of the tenant and the landlords. Carolina Aziz, Maddy Soffer, and Ike Bibi represented the landlords, while Dorel Melloul and Albert Manopla acted as the tenant's representatives. The lease was signed for a term and at a rental rate that was mutually agreed upon by all parties involved 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
93311.76%
Cash-on-Cash
-26668.79%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93