The Law Offices Of Mitchell S. Segal Signs Lease At 123 5th Avenue With Hersel Torkian Jaan & Family
123 5th Avenue
Building Size
2,500 SF
Asset Type
Retail
Closing
Mar 29, 2026
About this deal
AI
The asset involved in this transaction is a retail space located at 123 5th Avenue - Fifth Floor in the Flatiron District. The property spans 2,500 square feet and features a single net lease structure with an asking rent of $70 per square foot.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $175,000
- Landlord: Hersel Torkian Jaan & Family
- Tenant: The Law Offices of Mitchell S. Segal
- Brokers: Noam Aziz, Carson Shahrabani & Joseph Khojahiny - Meridian Capital Group
- Lease Type: Single Net Lease
This transaction features key individuals including landlord Hersel Torkian Jaan & Family and tenant The Law Offices of Mitchell S. Segal, facilitated by brokers Noam Aziz, Carson Shahrabani, and Joseph Khojahiny from Meridian Capital Group, who played a significant role in the leasing process.
On the Map
Retail
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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
226614.29%
Cash-on-Cash
-64767.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93