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1293 Third Avenue, Upper Ea...

Patisserie Chanson Leases Retail Space On Upper East Side
LEASEDRetail

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

Adam Henick

Current Real Estate Advisors

Broker

$1.6M

vol

16 deals

Broker
Premier Equities
Premier EquitiesLandlord

New York Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

Loading comparables…

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