Fuwa Fuwa Signs Ground Lease For Retail Space In East Village, Manhattan
153 1st Avenue
$125
$125/SF
Building Size
2,300 SF
Asset Type
Retail
Closing
Oct 1, 2023
AI
A ground lease for a retail property has been signed at 153 1st Avenue in the East Village neighborhood of Manhattan. The property spans 2,300 square feet and has an asking rent of $125 per square foot.
Summary of transaction details
- Property Type: Retail
- Address: 153 1st Avenue
- Market: East Village, Manhattan
- Asking Rent: $125/ft
- Square Footage: 2,300
The ground lease deal was negotiated between the landlord, Jonah Kriger, and the tenant, Fuwa Fuwa. The brokers representing both parties were Solomon Sharaby, Nathan Aballi, and Samuel Chera from KSR.
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
126904.00%
Cash-on-Cash
-36269.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93