Lion Club Development And Highstone Capital Lease Retail Space To Lucia Pizza In Yorkville
1571 3rd Avenue
$221
$221/SF
Building Size
1,250 SF
Asset Type
Retail
Closing
Aug 1, 2024
AI
The retail asset located at 1571 3rd Avenue spans a total of 1,300 square feet and is positioned in the Yorkville market of Manhattan. The asking rent for this lease transaction was $221 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $221/ft
- Asset Address: 1571 3rd Avenue
- Market: Yorkville, Manhattan
- Lease Type: Retail Lease
- Landlord: Lion Club Development - Andrew Aryeh & Highstone Capital - David Elbaz
- Tenant: Lucia Pizza
- Landlord's Representative: Claude Kolb & Nathan Aballi - KSR
- Tenant's Representative: Noam Aziz - Meridian Capital Group
Key individuals involved in this transaction include Andrew Aryeh and David Elbaz representing the landlord, while Noam Aziz represented the tenant, Lucia Pizza. The broker representatives Claude Kolb and Nathan Aballi are affiliated with 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
71778.28%
Cash-on-Cash
-20514.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93