Davean Holdings Leases Retail Space To Italian Pasta At 165 1st Avenue In East Village
165 1st Avenue
$90
$90/SF
Building Size
2,200 SF
Asset Type
Retail
Closing
Dec 29, 2024
About this deal
AI
The retail asset located at 165 1st Avenue in the East Village market features a total area of 2,200 square feet. The asking rent for the property is recorded at $115 per square foot, and the lease type is a Modified Gross Lease.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $115/ft
- Address: 165 1st Avenue
- Market: East Village
- Landlord: Davean Holdings
- Tenant: Italian Pasta
- Brokers: Isaac Abed & Chandler Slate - Tri State Commercial Realty
This transaction involves the representation of the landlord and tenant by Isaac Abed and Chandler Slate from Tri State Commercial Realty, ensuring the lease agreement was effectively negotiated and finalized.
On the Map
$90
$90/SF
Retail
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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
176255.56%
Cash-on-Cash
-50374.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93