Coney Island Prep Signs Lease For Retail Space At 1421 Mermaid Avenue, New York City
1421 Mermaid Avenue
$40
$40/SF
Building Size
6,000 SF
Asset Type
Retail
Closing
Mar 1, 2023
About this deal
AI
The leased property located at 1421 Mermaid Avenue in New York City has recently been transacted. The asset type for this transaction is retail, comprising a total area of 6,000 square feet. The lease was facilitated by Meyer Dagmy from Mod_CRE, representing the landlord, Zoriano Realty, and the tenant, Coney Island Prep. The rental price for the space was set at $40 per square foot.
Summary of transaction details
- Property Type: Retail
- Address: 1421 Mermaid Avenue, New York City
- Market: New York City
- Broker: Meyer Dagmy (Mod_CRE) - MOD
- Landlord: Zoriano Realty
- Tenant: Coney Island Prep
- Asking Rent: $40 per square foot
- Square Footage: 6,000
Meyer Dagmy from Mod_CRE played a crucial role as the broker representing both the landlord, Zoriano Realty, and the tenant, Coney Island Prep, in this lease transaction. It is worth noting that MOD is also actively seeking space for additional daycare operators. Interested property owners and brokers can reach out to MOD at [email protected] with any relevant space available.
On the Map
$40
$40/SF
Retail
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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
396575.00%
Cash-on-Cash
-113342.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93