Hampton Market Leases Retail Space At 1998 Second Avenue In East Harlem
1998 2nd Avenue
$75
$75/SF
Building Size
2,500 SF
Asset Type
Retail
Closing
Mar 5, 2024
About this deal
AI
The retail property located at 1998 Second Avenue in East Harlem was recently leased to Hampton Market. The lease, facilitated by Peter Fine as the landlord and Marc Sitt & Miles Sabbagh from KSR as the landlord's representatives, was negotiated with the assistance of Paul Risoli from CDRE, representing the tenant. The asking rent for the 2,500 square feet space was set at $75 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 1998 Second Avenue
- Market: East Harlem
- Landlord: Peter Fine
- Tenant: Hampton Market
- Landlord's Rep: Marc Sitt & Miles Sabbagh - KSR
- Tenant's Rep: Paul Risoli - CDRE
- Asking Rent: $75/ft
- Lease Type: Retail Lease
Marc Sitt and Miles Sabbagh from KSR played a significant role as the landlord's representatives, ensuring a successful lease agreement for the retail space. On the other hand, Paul Risoli, representing Hampton Market as the tenant's representative, effectively negotiated the terms of the lease on behalf of the tenant. The collaborative efforts of these key individuals and companies led to the completion of the retail lease transaction in East Harlem.
Players
New York Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
Loading comparables…
Deal FAQ
Visit Marc Sitt to view all their deals.
Browse New York retail leases on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
211506.67%
Cash-on-Cash
-60449.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93