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1345 2nd Avenue, Manhattan,...

Updated Oct 29, 2024

Cloud 2 Convenience Leases 1,000 SF Retail Space In Upper East Side With Rep Aaron Aziz - Avenue Realty Advisors
LEASEDRetail

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

Aaron Aziz

ARA

Broker

47 deals

Broker
Gatsby Enterprises
Gatsby EnterprisesLandlord

New York Retail Market Snapshot

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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

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