Antony Contomichalos Leases Retail Space To Fricoinc Pizza At 1319 2nd Avenue
1319 2nd Avenue
$170
$170/SF
Building Size
600 SF
Asset Type
Retail
Closing
Jan 30, 2025
AI
The retail asset located at 1319 2nd Avenue in the Upper East Side features a leased space measuring 600 square feet. The asking rent for this property was set at $170 per square foot under a Modified Gross Lease agreement.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $102,000
- Landlord: Antony Contomichalos
- Tenant: Fricoinc Pizza
- Broker: Sara Lamstein - Meridian Capital Group
- Lease Type: Modified Gross Lease
The transaction involved Antony Contomichalos as the landlord, leasing the space to Fricoinc Pizza, represented in the deal by broker Sara Lamstein from Meridian Capital Group. The agreement stipulates a modified gross lease, defining the responsibilities of the tenant and landlord regarding operating expenses.
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
93311.76%
Cash-on-Cash
-26668.79%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93