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
About this deal
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:
- Property Type: Retail
- Transaction Amount: $65/ft
- Address: 1325 5th Avenue
- Market: South Harlem
- Lease Type: Modified Gross Lease
- Landlord: Rodney Propp
- Tenant: K-Street Food
- Landlord's Rep: Noam Aziz & Dane Harlowe - Meridian Capital Group
- Tenant's Rep: Kevin Bisconti - Meridian Capital Group
- Square Footage: 991
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
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