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177 8th Avenue

Eytan Chissick Leases Retail Space At 177 8th Avenue To Paste De Pasta For $160/ft
LEASEDRetail

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:

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

James Famularo

Meridian Capital Group

Broker

$11.4M

vol

362 deals

Broker

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