River Spring Physical Therapy P.C Signs Lease At 1400 5th Avenue With Ashkenazy Acquisition Corp
1400 5th Avenue
$65
$65/SF
Building Size
2,617 SF
Asset Type
Retail
Closing
Apr 6, 2026
AI
This transaction involves a retail asset located at 1400 5th Avenue in Harlem, Manhattan. The single net lease was arranged at an asking rent of $65 per square foot for a total area of 2,617 square feet.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $65/ft
- Address: 1400 5th Avenue
- Market: Harlem, Manhattan
- Lease Type: Single Net Lease
- Landlord: Ashkenazy Acquisition Corp
- Tenant: River Spring Physical Therapy P.C
- Landlord's Representative: Noam Aziz, Daniel Zacaim & Max Freudenberger - Meridian Capital Group
- Tenant's Representative: Shaya Katz - Meridian Capital Group
- Square Footage: 2,617
The deal prominently features the involvement of Meridian Capital Group, which represented both the landlord and tenant in the transaction. Noam Aziz, Daniel Zacaim, and Max Freudenberger acted on behalf of Ashkenazy Acquisition Corp, while Shaya Katz represented River Spring Physical Therapy P.C.
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