Danny's Cleaners Leases Retail Space At 172 Third Avenue In Gramercy By Solil Management
172 3rd Avenue, Manhattan, New York, NY, USA
Building Size
990 SF
Asset Type
Retail
Closing
Nov 1, 2018
About this deal
AI
Located at 172 Third Avenue in the Gramercy market, this retail space underwent a lease transaction. The property spans across 990 square feet and has a price per square foot (PPSF) of $150. The lease was finalized on November 2, 2018. The tenant for this space is Danny’s Cleaners, and the landlord is Solil Management. The deal was facilitated by brokers Albert Manopla and Ralph M. Sarway from Kassin Sabbagh Realty.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Lease
- Square Footage: 990
- PPSF: $150/ft
- Tenant: Danny’s Cleaners
- Landlord: Solil Management
- Brokers: Albert Manopla - Kassin Sabbagh Realty
The deal was successfully negotiated by Albert Manopla and Ralph M. Sarway from Kassin Sabbagh Realty, representing the tenant (Danny’s Cleaners) and the landlord (Solil Management) respectively. For any further inquiries regarding this corner space, which includes an additional 1,000 square foot basement, interested parties can contact Ralph Sarway at 917-533-3659.
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