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The Studio At Fastbreak Signs Retail Lease At 1621 1st Avenue For $150/ft

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LEASED
$150

New York

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Retail1,740 SF
Leased 02/29/2024
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Property Image
LEASED

The Studio At Fastbreak Signs Retail Lease At 1621 1st Avenue For $150/ft

1621 1st Avenue

See Similar Deals
Retail1,740 SF
Leased 02/29/2024
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Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$150
Total Square Footage:1,740 SF
Transaction Type:Lease

The retail property located at 1621 1st Avenue in the Upper East Side was leased to The Studio At Fastbreak. The transaction was facilitated by Newmark's Gary Alterman and Andrew Stern representing the landlord, Lee Rosen of The Kibel Companies, while Meridian Capital Group's James Famularo represented the tenant. The retail lease was signed with an asking rent of $150 per square foot for a space measuring 1,740 square feet.

Summary of transation details:

The collaborative effort of Gary Alterman, Andrew Stern, and James Famularo played a crucial role in the successful leasing of the retail space. Lee Rosen's strategic decision to engage with these reputable representatives ultimately led to the completion of the lease agreement at the heart of the bustling Upper East Side market.

Players

Andrew Stern
76 deals$5.4M volume
BROKER

James Famularo
Meridian Capital Group
357 deals$11.4M volume(212) 468-5960
BROKER

Details

LEASED
IMAGE: Gary Alterman, James Famularo & Andrew Stern DATE: 02/29/2024 ADDRESS: 1621 1st Avenue MARKET: Upper East Side ASSET TYPE: Retail LANDLORD: Lee Rosen - The Kibel Companies TENANT: The Studio At Fastbreak LANDLORD'S REP: Gary Alterman & Andrew Stern - Newmark (@Newmark) TENANT'S REP: James Famularo (@JamesFamularo) - Meridian Capital Group (@Meridian_Retail_Leasing) ASKING RENT: $150/ft ~ SF: 1,740 LEASE TYPE: Retail Lease

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Deal Type
Effective Rent (Annual)

$299,207.25

Total Lease Value

$2,992,072.50

Net Landlord Cash Flow$299,207.25