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2118 3rd Ave New York, NY 1...

Skyview Convenience Inc Leases Retail Space In East Harlem Manhattan
LEASEDRetail

Skyview Convenience Inc Leases Retail Space In East Harlem Manhattan

2118 3rd Ave New York, NY 10029, USA

$63

$63/SF

Building Size

2,000 SF

Asset Type

Retail

Closing

Sep 6, 2023

AI

The property involved in this lease transaction is located at 2118 3rd Avenue in East Harlem, Manhattan. It is a retail space with a total square footage of 2,000. The landlord, Helm Management, represented by Paul Lyons, entered into a lease agreement with the tenant, Skyview Convenience Inc. The transaction was facilitated by brokers James Famularo and Bobby Ortense from Meridian Capital Group.

Summary of transaction details:

  • Property Type: Retail
  • Asking Rent: $63 per square foot
  • Square Footage: 2,000
  • Address: 2118 3rd Avenue, East Harlem, Manhattan
  • Market: East Harlem, Manhattan
  • Landlord: Helm Management - Paul Lyons
  • Tenant: Skyview Convenience Inc
  • Brokers: James Famularo & Bobby Ortense - Meridian Capital Group

This lease transaction showcases the collaboration between the landlord, Helm Management, and the tenant, Skyview Convenience Inc. James Famularo and Bobby Ortense from Meridian Capital Group acted as the brokers representing both parties. The deal was successfully negotiated with an asking rent of $63 per square foot for the 2,000 square foot retail space.

Players

James Famularo

Meridian Capital Group

Broker

$11.4M

vol

362 deals

Broker

Paul Lyons

Helm Management

Landlord

4 deals

Landlord

Market 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

251793.65%

Cash-on-Cash

-71963.40%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93