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.
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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