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188 Avenue B, New York City...

Updated Oct 28, 2024

Next Best LLC Leases Retail Space At 188 Avenue B In East Village
LEASEDRetail

Next Best LLC Leases Retail Space At 188 Avenue B In East Village

188 Avenue B, New York City, New York 10009, United States

Building Size

1,100 SF

Asset Type

Retail

Closing

Mar 6, 2022

About this deal

AI

The retail space located at 188 Avenue B in East Village has been leased. The property, measuring approximately 1,100 square feet, was leased by Next Best LLC. The lease transaction was facilitated by Ben Biberaj, Arta Gashi, and Jean Bates from Meridian Retail Leasing, representing the tenant. The landlord in this deal is Steven Croman. The asking rent for the space was $150 per square foot.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Address: 188 Avenue B
  • Market: East Village
  • Tenant: Next Best LLC
  • Tenant's Representative: Ben Biberaj, Arta Gashi, and Jean Bates - Meridian Retail Leasing
  • Landlord: Steven Croman
  • Asking Rent: $150 per square foot
  • Square Footage: 1,100

The leasing deal for this retail space at 188 Avenue B was successfully brokered by Ben Biberaj, Arta Gashi, and Jean Bates, who represented the tenant Next Best LLC in the transaction. The landlord, Steven Croman, agreed to lease the property to Next Best LLC. The terms of the deal included an asking rent of $150 per square foot for the 1,100 square feet of retail space.

Players

Ben Biberaj

IPRG Retail Leasing

Broker

$26.2M

vol

204 deals

Broker
Steve Croman

Steve Croman

Centennial Properties

Landlord

$50.1M

vol

40 deals

Landlord

New York Retail Market Snapshot

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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

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