Beijing Hot Pot Leases Retail Space At 167 1st Avenue In East Village With Isaac Abed's Representation
167 1st Avenue
$142
$142/SF
Building Size
2,200 SF
Asset Type
Retail
Closing
Nov 25, 2024
AI
The property asset involved in the transaction is a retail space located at 167 1st Avenue in the East Village market. The asset has a total square footage of 2,200 and is leased under a Modified Gross Lease with an asking rent of $142 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $142/ft
- Address: 167 1st Avenue
- Market: East Village
- Landlord: Davean Holdings
- Tenant: Beijing Hot Pot
- Landlord's Representative: Isaac Abed - Tri State Commercial Realty
- Tenant's Representative: Glen Wu
The individuals involved in this lease agreement include Davean Holdings as the landlord, which is represented by Isaac Abed from Tri State Commercial Realty. The tenant, Beijing Hot Pot, has Glen Wu acting as its representative in this deal.
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
111711.27%
Cash-on-Cash
-31927.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93