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1592 2nd Avenue, New York C...

Meridian Retail Leasing Represents Lease Of Retail Space In Upper East Side For $108,000/year
LEASEDRetail

Meridian Retail Leasing Represents Lease Of Retail Space In Upper East Side For $108,000/year

1592 2nd Avenue, New York City, New York 10016, United States

Building Size

800 SF

Asset Type

Retail

Closing

Apr 25, 2022

AI

Andrew Ingber of Meridian Retail Leasing represented the parties involved in a lease transaction for a retail space located at 1592 Second Avenue on the Upper East Side. The property offers approximately 800 square feet of space and was marketed at an asking rent of $135 per square foot.

Summary of transaction details

  • Property Type: Retail
  • Transaction Date: 04/26/2022
  • Address: 1592 Second Avenue
  • Market: Upper East Side

This lease deal was facilitated by Andrew Ingber, the broker from Meridian Retail Leasing. He represented the parties involved in securing the retail space for lease. The transaction was completed on 04/26/2022.

Players

Andrew Ingber

Meridian Capital Group

Broker

22 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93