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123 1st Avenue, New York Ci...

Updated Oct 29, 2024

Memphis Seoul Leases Retail Space At 123 First Ave In East Village
LEASEDRetail

Memphis Seoul Leases Retail Space At 123 First Ave In East Village

123 1st Avenue, New York City, New York 10003, United States

Building Size

850 SF

Asset Type

Retail

Closing

Oct 19, 2022

About this deal

AI

Memphis Seoul, a retail tenant, has signed a lease agreement for a space located at 123 First Ave in the East Village market. The property, owned by Lunar Estates LLC, has an asking rent of $250 per square foot. The lease was finalized on 10/19/2022, with a total square footage of 850. Greg Goldberg from Meridian Capital Group represented the landlord, while Jack Mosseri from Silverline Realty Group represented the tenant in the transaction.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: N/A
  • Address: 123 First Ave
  • Market: East Village
  • Tenant: Memphis Seoul
  • Tenant's Rep: Jack Mosseri - Silverline Realty Group
  • Landlord: Lunar Estates LLC
  • Landlord's Rep: Greg Goldberg - Meridian Capital Group
  • Asking Rent: $250/ft.
  • SF: 850

Greg Goldberg from Meridian Capital Group and Jack Mosseri from Silverline Realty Group played key roles in the lease agreement between Memphis Seoul and Lunar Estates LLC for the retail space at 123 First Ave. Their expertise and representation ensured the successful conclusion of the transaction.

Players

Greg Goldberg

Meridian Capital Group

Broker

$4.3M

vol

72 deals

Broker

New York Retail Market Snapshot

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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

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