Dunne Hospitality Leases Retail Space At 179 Avenue B In East Village With ARA And Titan Group
179 Avenue B
$131
$131/SF
Building Size
1,100 SF
Asset Type
Retail
Closing
Feb 3, 2025
About this deal
AI
The property asset involves a retail lease located at 179 Avenue B in the East Village market. The space comprises 1,100 square feet with an asking rent of $131 per square foot.
Summary of transaction details:
- Property Type: Retail Lease
- Transaction Amount: $131/ft
- Address: 179 Avenue B
- Market: East Village
- Landlord: Big Apple Management
- Tenant: Dunne Hospitality - 5's
- Landlord's Representative: Benjamin Namdar & Emanuel Hakami - ARA
- Tenant's Representative: Adam Lavian - Titan Group New York
- Lease Type: Retail Lease
- Square Footage: 1,100
After 6 years of vacancy, the former “Guac” retail space has been leased. Titan Group was instrumental in bringing in the tenant, while ARA represented the landlord. Dunne Hospitality intends to establish a new presence on the block.
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
121091.60%
Cash-on-Cash
-34608.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93