Hi5! Pet Services Leases Retail Space From Raymond Cazis At 152 East 22nd Street
152 East 22nd Street
$90
$90/SF
Building Size
600 SF
Asset Type
Retail
Closing
Nov 4, 2024
About this deal
AI
The retail asset located at 152 East 22nd Street in the Gramercy Park market has a leased space of 600 square feet. The asking rent for this property is $90 per square foot. The lease type is a Modified Gross Lease.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $90/ft
- Address: 152 East 22nd Street
- Market: Gramercy Park
- Landlord: Raymond Cazis
- Tenant: Hi5! Pet Services
- Landlord's Representative: James Famularo & Bobby Ortense & Joseph Khojahiny - Meridian Capital Group
This transaction involved key representatives from Meridian Capital Group, highlighting the collaborative efforts of James Famularo, Bobby Ortense, and Joseph Khojahiny in facilitating the deal on behalf of landlord Raymond Cazis. The lease agreement benefits tenant Hi5! Pet Services, marking a significant entry into the retail sector in this market area.
On the Map
$90
$90/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
176255.56%
Cash-on-Cash
-50374.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93