Abe Sanieoff Leases Retail Space To Acro Coffee At 213 1st Avenue In East Village
213 1st Avenue
$180
$180/SF
Building Size
800 SF
Asset Type
Retail
Closing
Dec 20, 2024
AI
The retail property located at 213 1st Avenue in the East Village encompasses a total of 800 square feet. The modified gross lease for this asset involves an asking rent of $180 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $180/ft
- Lease Type: Modified Gross Lease
- Landlord: Abe Sanieoff
- Tenant: Acro Coffee
- Landlord's Representative: Greg Goldberg - Meridian Capital Group
- Tenant's Representative: Drew Silvester - Colliers
The transaction showcases the involvement of key representatives in the deal, including Greg Goldberg from Meridian Capital Group, who represented the landlord, and Drew Silvester from Colliers, representing the tenant. Their roles were integral in facilitating the lease agreement between Abe Sanieoff and Acro Coffee.
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
88127.78%
Cash-on-Cash
-25187.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93