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157 East 57th Street

3rd Ave Gourmet & Juice Bar Leases Retail Space At 157 East 57th Street In Midtown East
LEASEDRetail

3rd Ave Gourmet & Juice Bar Leases Retail Space At 157 East 57th Street In Midtown East

157 East 57th Street

$260

$260/SF

Building Size

700 SF

Asset Type

Retail

Closing

Feb 6, 2023

AI

The recently closed lease transaction involved a retail property located at 157 East 57th Street in Midtown East. The asset spans approximately 700 square feet. The landlord, Jane Goldman, successfully leased the space to 3rd Ave Gourmet & Juice Bar.

Summary of transaction details:

  • Property Type: Retail
  • Asking Rent: $260/ft
  • Square Footage: 700
  • Address: 157 East 57th Street
  • Market: Midtown East

The lease deal was facilitated by multiple brokerage representatives. Matin Hakimian and Aaron Aziz, from Avenue Realty Advisors, represented the landlord, while Yosef Kirschenbaum, from Lease Buyout Advisors, represented the tenant. The lease negotiations successfully met the owner's (Solil Management) requirements, with ARA handling their representation. It is worth noting that the tenant, 3rd Ave Gourmet & Juice Bar, sought the expertise of Yosef Kirschenbaum from Lease Buyout Advisors.

If you are in the market for leasing commercial space, whether you are a property owner with vacant space or a tenant seeking to open or expand your business, consider reaching out to the leasing specialists at Avenue Realty Advisors. They can provide valuable guidance and support based on your specific needs.

Contact details:

For more information and updates, visit Avenue Realty Advisors' website at www.aranyc.com and their Instagram profile at @aranyc_.

If you're interested in joining the ARA team, you can reach out via their contact page.

Players

Aaron Aziz

ARA

Broker

47 deals

Broker
Jane Goldman

Jane Goldman

Solil Management

Landlord

$45.7M

vol

6 deals

Landlord

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

61011.54%

Cash-on-Cash

-17437.28%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93