Hershel Torkian Leases Retail Space To Peachy Bling For $91/ft In Flatiron District
123 Fifth Avenue
$91
$91/SF
Building Size
2,500 SF
Asset Type
Retail
Closing
May 31, 2026
About this deal
AI
The leased asset is a retail space located at 123 Fifth Avenue in the Flatiron District, consisting of 2,500 square feet. The asking rent for the space is $91 per square foot, and it operates under a Single Net Lease structure.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $91/ft
- Square Footage: 2,500 SF
- Address: 123 Fifth Avenue
- Market: Flatiron District
- Landlord: Hershel Torkian
- Tenant: Peachy Bling
- Landlord's Rep: Noam Aziz, Carson Shahrabani & Joseph Khojahiny - Meridian Capital Group
- Tenant's Rep: Kevin Bisconti & Stephen Ligambi - Meridian Capital Group
The transaction involved key individuals from Meridian Capital Group, representing both the landlord and the tenant. Noam Aziz, Carson Shahrabani, and Joseph Khojahiny represented the landlord, while Kevin Bisconti and Stephen Ligambi represented the tenant in this lease agreement.
On the Map
$91
$91/SF
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
174318.68%
Cash-on-Cash
-49820.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93