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1575 2nd Avenue

Solil Management Leases Retail Space To Sushi By M On Upper East Side
LEASEDRetail

Solil Management Leases Retail Space To Sushi By M On Upper East Side

1575 2nd Avenue

$155

$155/SF

Building Size

1,560 SF

Asset Type

Retail

Closing

Mar 13, 2024

AI

The retail property located at 1575 Second Avenue in the Upper East Side was leased in a transaction involving Solil Management as the landlord and Sushi By M as the tenant. The deal was facilitated by brokers Maddy Soffer, Solomon Tbeile, and Albert Manopla of KSR. The property boasts a leasing area of 1,560 square feet with an asking rent of $155 per square foot.

Summary of transation details:

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Address: 1575 Second Avenue
  • Market: Upper East Side
  • Landlord: Solil Management
  • Tenant: Sushi By M
  • Brokers: Maddy Soffer, Solomon Tbeile & Albert Manopla - KSR
  • Asking Rent: $155/ft
  • Square Footage: 1,560
  • Lease Type: Retail Lease

The collaboration between Solil Management, Sushi By M, and the broker team of Maddy Soffer, Solomon Tbeile, and Albert Manopla underscores the successful completion of this retail lease in the vibrant Upper East Side market. Each party played a pivotal role in finalizing the agreement for the 1,560 square foot space, marking another significant transaction in the commercial real estate landscape.

Players

Albert Manopla

Kassin Sabbagh Realty

Broker

$4.3M

vol

87 deals

Broker

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

102341.94%

Cash-on-Cash

-29249.64%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93