Elliot Sohayegh Leases Retail Space At 1301 Third Avenue To Amado On Third For $300/SF
1301 Third Avenue
$300
$300/SF
Building Size
1,000 SF
Asset Type
Retail
Closing
Aug 18, 2026
About this deal
AI
The property asset involved is a retail space located at 1301 Third Avenue in New York. The asking rent is set at $300 per square foot for a total square footage of 1,000. The lease type is a Single Net Lease.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $300/ft
- Lease Type: Single Net Lease
- Landlord: Elliot Sohayegh
- Tenant: Amado On Third
- Landlord's Representative: James Famularo, Jacob Mayer & Michael Escava - Meridian Capital Group
- Tenant's Representative: Raymond Chera - Penn South Capital
The transaction highlights the collaborative efforts of the representatives involved, particularly those from Meridian Capital Group representing the landlord and Penn South Capital representing the tenant, emphasizing the importance of professional representation in lease agreements.
On the Map
$300
$300/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
52876.67%
Cash-on-Cash
-15112.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93