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1228 Madison Avenue

NUNUNU Leases Retail Space At 1228 Madison Avenue On Upper East Side
LEASEDRetail

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

Albert Manopla

Kassin Sabbagh Realty

Broker

$4.3M

vol

89 deals

Broker
SK Development
SK DevelopmentBrokerage
SK Development
SK DevelopmentLandlord
Arel Capital
Arel CapitalLandlord

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