8th Convenience Corp. Leases Retail Space At 163 8th Ave In Chelsea With Landlord's Rep Michael Gammal - Elmekies Equities
163 8th Avenue, New York City, New York 10011, United States
Building Size
1,450 SF
Asset Type
Retail
Closing
Jun 5, 2022
AI
An retail property located at 163 8th Ave in Chelsea has been leased. The property has a total square footage of 1,450 square feet. The lease was finalized on 06/06/2022.
Summary of transaction details
- Property Type: Retail
- Transaction Date: 06/06/2022
- Address: 163 8th Ave
- Market: Chelsea
The landlord for the property is Eduard Slinin. The tenant is 8th Convenience Corp. The tenant's representative in the deal is Michael Kameo from Elmekies Equities. The landlord's representative is Michael Gammal, also from Elmekies Equities.
The asking rent for the property is $150 per square foot.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93