Strond Salon Leases Retail Space At 223 East 58th Street In Midtown East
223 East 58th Street
$120
$120/SF
Building Size
2,500 SF
Asset Type
Retail
Closing
Nov 10, 2023
AI
The retail property located at 223 East 58th Street in Midtown East has recently been leased. The property, measuring 2,500 square feet, was leased as a ground lease transaction. The landlord, Omid Pourmoradi, negotiated the lease agreement with the tenant, Strond Salon. The asking rent for the property was $120 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 223 East 58th Street
- Market: Midtown East
- Landlord: Omid Pourmoradi
- Tenant: Strond Salon
- Asking Rent: $120 per square foot
- Lease Type: Ground Lease
Ravi Idnani from Newmark represented the landlord, Omid Pourmoradi, in the leasing process, while Claude Kolb from KSR represented the tenant, Strond Salon.
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
132191.67%
Cash-on-Cash
-37780.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93