Cloud 2 Convenience Leases 1,000 SF Retail Space In Upper East Side With Rep Aaron Aziz - Avenue Realty Advisors
1345 2nd Avenue, Manhattan, New York, NY, USA
Building Size
1,000 SF
Asset Type
Retail
Closing
Feb 4, 2021
About this deal
AI
A retail lease transaction took place on Second Avenue in the Upper East Side. The property, located at 1345 Second Avenue, is a retail space measuring 1,000 square feet. The tenant, Cloud 2 Convenience, signed a long-term lease agreement with the landlord, Gatsby Enterprises. The deal was facilitated by Aaron Aziz of Avenue Realty Advisors. The asking rent for the space was $130 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Date: 02/05/2021
- Address: 1345 Second Avenue
- Market: Upper East Side
- Tenant: Cloud 2 Convenience
- Landlord: Gatsby Enterprises
- Broker: Aaron Aziz - Avenue Realty Advisors
- Asking Rent: $130 per square foot
- Size: 1,000 square feet
Aara Realty Advisors, also known as ARA, is an independent real estate firm specializing in both small boutique transactions and large corporate transactions. ARA focuses on the dual representation of tenants and landlords for various types of spaces in NYC, including restaurants, retail stores, offices, and industrial spaces. For more information about ARA or to inquire about leasing commercial spaces, you can visit their website at www.aranyc.com or contact Aaron Aziz, the principal broker.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93