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
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