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1325 5th Avenue

Rodney Propp Leases Retail Space At 1325 5th Avenue To K-Street Food For $65/ft
LEASEDRetail

Rodney Propp Leases Retail Space At 1325 5th Avenue To K-Street Food For $65/ft

1325 5th Avenue

$65

$65/SF

Building Size

991 SF

Asset Type

Retail

Closing

May 1, 2025

AI

This retail asset, located at 1325 5th Avenue in the South Harlem market, has an asking rent of $65 per square foot for a total of 991 square feet. The property is under a Modified Gross Lease.

Summary of transaction details:

Noam Aziz and Dane Harlowe represented the landlord, Rodney Propp, while Kevin Bisconti acted on behalf of the tenant, K-Street Food, all from Meridian Capital Group. The lease transaction reflects the strategic partnership between the involved parties in the retail space market.

Players

Dane Harlowe

Meridian Capital Group

Broker

$1.8M

vol

68 deals

Broker

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

244046.15%

Cash-on-Cash

-69749.14%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93