Jack Shamosh Leases Retail Space To Third Avenue Deli At 1909 3rd Avenue In East Harlem
1909 3rd Avenue
$100
$100/SF
Building Size
1,200 SF
Asset Type
Retail
Closing
Apr 2, 2025
About this deal
AI
The retail asset located at 1909 3rd Avenue in East Harlem, Manhattan consists of 1,200 square feet of leased space. The modified gross lease for this property was established at an asking rent of $100 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $120,000
- Address: 1909 3rd Avenue
- Market: East Harlem, Manhattan
- Landlord: Jack Shamosh
- Tenant: Third Avenue Deli
- Landlord's Representative: Dane Harlowe & Noam Aziz - Meridian Capital Group
- Tenant's Representative: Nathan Shabot - Meridian Capital Group
- Lease Type: Modified Gross Lease
This lease transaction involved Jack Shamosh as the landlord and Third Avenue Deli as the tenant, facilitated by representatives from Meridian Capital Group for both parties, ensuring a smooth negotiation and agreement on the lease terms.
On the Map
$100
$100/SF
Retail
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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
158630.00%
Cash-on-Cash
-45336.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93