Eytan Chissick Leases Retail Space At 177 8th Avenue To Paste De Pasta For $160/ft
177 8th Avenue
$160
$160/SF
Building Size
1,500 SF
Asset Type
Retail
Closing
Nov 1, 2024
AI
The asset involved in this transaction is a retail space located at 177 8th Avenue in Chelsea. The property encompasses a total square footage of 1,500 and has an asking rent of $160 per square foot. The lease type is a Modified Gross Lease.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $160/ft
- Address: 177 8th Avenue
- Market: Chelsea
- Square Footage: 1,500
- Lease Type: Modified Gross Lease
- Landlord: Eytan Chissick
- Tenant: Paste De Pasta
- Landlord's Representative: James Famularo & Bobby Ortense - Meridian Capital Group
- Tenant's Representative: Haz Aliessa - Tower Brokerage
In this transaction, Eytan Chissick serves as the landlord while Haz Aliessa represents the tenant, Paste De Pasta. The deal reflects the collaborative efforts of James Famularo and Bobby Ortense, who are affiliated with Meridian Capital Group in representing the landlord.
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
99143.75%
Cash-on-Cash
-28335.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93