Gelman Optical Leases Retail Space At 1407 3rd Avenue On Upper East Side
1407 3rd Avenue
$200
$200/SF
Building Size
1,250 SF
Asset Type
Retail
Closing
Apr 1, 2023
AI
Located at 1407 3rd Avenue in the Upper East Side, this retail property has recently been leased. The property features a total square footage of 1,250 square feet. The lease transaction was completed on April 1, 2023.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Leased
- Asking Rent: $200 per square foot
- Landlord: Joe Sheena
- Tenant: Gelman Optical
- Landlord's Representative: Andrew Stern & Mai Sachi - Newmark
- Tenant's Representative: Joshua Berkun - KSR
Represented by Andrew Stern and Mai Sachi from Newmark, Joe Sheena served as the landlord in this lease transaction. On the other hand, Gelman Optical, represented by Joshua Berkun from KSR, became the tenant of this retail space.
Players
Market 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
79315.00%
Cash-on-Cash
-22668.47%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93