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154 7th Avenue, Manhattan, ...

Chelsea Organic Leases Retail Space In Chelsea With Ori Melloul, David Green, Andrew Schulman & Ryan Schimel As Brokers
LEASEDRetail

Chelsea Organic Leases Retail Space In Chelsea With Ori Melloul, David Green, Andrew Schulman & Ryan Schimel As Brokers

154 7th Avenue, Manhattan, New York, NY, USA

Building Size

1,000 SF

Asset Type

Retail

Closing

Mar 24, 2021

AI

The retail property located at 154 7th Avenue in Chelsea has been leased. The transaction took place on 03/25/2021.

Summary of transaction details

  • Property Type: Retail
  • Address: 154 7th Avenue, Chelsea
  • Market: Chelsea
  • Tenant: Chelsea Organic 🌽 🌶 🍎
  • Landlord: Midwood Properties

Ori Melloul and David Green represented the tenant, Chelsea Organic 🌽 🌶 🍎, in the deal. Assin Sabbagh Realty, along with Andrew Schulman and Ryan Schimel from Capricorn Retail Advisors, served as the brokers representing the landlord, Midwood Properties.

The asking rent for the 1,000 square feet retail space was $180 per square foot.

Players

David Green

Kassin Sabbagh Realty

Broker

$447M

vol

176 deals

Broker
Midwood Investment & Development
Midwood Investment & DevelopmentLandlord

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93