FedEx Leases 4,500 SF Retail Space At 1370 3rd Avenue Upper East Side From RFR
1370 3rd Avenue
$400
$400/SF
Building Size
4,500 SF
Asset Type
Retail
Closing
Feb 7, 2025
About this deal
AI
The property asset involved in this transaction is a retail space located at 1370 3rd Avenue in the Upper East Side market. The total square footage of the space is 4,500, and the asking rent is set at $400 per foot. This leasing agreement is classified as a long-term retail lease.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $1,800,000
- Address: 1370 3rd Avenue
- Market: Upper East Side
- Landlord: RFR
- Tenant: FedEx
- Lease Term: Long Term
- Lease Type: Retail Lease
- Brokers: Brandon Singer, Virginia Pittarelli, Madison Grossman - Retail By MONA; Scott Zinovoy & Josh Strauss - Dreamscape Companies
This transaction features key representatives in the deal, including Brandon Singer, Virginia Pittarelli, and Madison Grossman representing Retail By MONA. Additionally, Scott Zinovoy and Josh Strauss represent Dreamscape Companies in this leasing agreement.
On the Map
$400
$400/SF
Retail
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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
39657.50%
Cash-on-Cash
-11334.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93