Patisserie Chanson Leases Retail Space On Upper East Side
1293 Third Avenue, Upper East Side, New York, NY, USA
Building Size
1,100 SF
Asset Type
Retail
Closing
Aug 11, 2021
AI
Located in the Upper East Side market, the retail property at 1293 Third Avenue recently underwent a lease transaction. The property spans 1,100 square feet and was leased by @PatisserieChanson, a renowned bakery. The lease was facilitated by Carolina Aziz and David Green from Kassin Sabbagh Realty, representing the tenant, while Jennifer Bernstein and Adam Henick from Current Real Estate represented the landlord, Premier Equities. The lease was successfully negotiated with an asking rent of $250 per square foot.
Summary of transaction details
- Property Type: Retail
- Tenant: @PatisserieChanson
- Landlord: Premier Equities
- Tenant's Rep: Carolina Aziz & David Green - Kassin Sabbagh Realty
- Landlord's Rep: Jennifer Bernstein & Adam Henick - Current Real Estate
- Address: 1293 Third Avenue
- Market: Upper East Side
- Asking Rent: $250/ft.
- Square Footage: 1,100
The lease transaction at 1293 Third Avenue was successfully executed through the collaboration of key individuals and firms. Carolina Aziz and David Green, representing the tenant, played a crucial role throughout the negotiations. On the other hand, Jennifer Bernstein and Adam Henick, the landlord's representatives, ensured the smooth completion of the lease. The deal demonstrates the expertise and professionalism of Kassin Sabbagh Realty and Current Real Estate in the Upper East Side market.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93