Metro Cafe Leases Retail Space At 1955 1st Avenue In New York City
1955 1st Avenue
$65
$65/SF
Building Size
2,240 SF
Asset Type
Retail
Closing
Mar 17, 2023
About this deal
AI
JJ Bistricer and Clipper Equities have leased the retail property located at 1955 1st Avenue in New York City to Metro Cafe. The property spans 3,087 square feet and was leased at an asking rent of $65 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 1955 1st Avenue, New York City
- Market: New York City
- Landlord: JJ Bistricer & Clipper Equities
- Tenant: Metro Cafe
- Asking Rent: $65 per square foot
- Square Footage: 3,087
The lease transaction was facilitated by Ross Berkowitz, Ravi Idnani, and Aric Trakhtenberg from Newmark, representing the landlord. The tenant, Metro Cafe, was represented by Solomon Tbeile and George Skaliarinis from KSR.
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
244046.15%
Cash-on-Cash
-69749.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93