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2231 3rd Avenue

Tower Hill's Sumrah Sheikh Leases Retail Space To Easy Shopping At 2231 3rd Avenue
LEASEDRetail

Tower Hill's Sumrah Sheikh Leases Retail Space To Easy Shopping At 2231 3rd Avenue

2231 3rd Avenue

$23

$23/SF

Building Size

14,666 SF

Asset Type

Retail

Closing

Jan 4, 2026

AI

The property asset involved in the transaction is a retail space located at 2231 3rd Avenue in East Harlem. The asking rent for the space is $23 per square foot, encompassing a total area of 14,666 square feet. The lease type is categorized as a Single Net Lease.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $23/ft
  • Address: 2231 3rd Avenue
  • Market: East Harlem
  • Lease Type: Single Net Lease
  • Landlord: Tower Hill - Sumrah Sheikh
  • Tenant: Easy Shopping
  • Brokers: James Famularo, Bobby Ortense & Cory Rywalt - Meridian Capital Group

The transaction involves key representatives in the leasing process. The landlords, Tower Hill, are represented by Sumrah Sheikh, while the brokerage firm Meridian Capital Group facilitated the lease with the combined efforts of brokers James Famularo, Bobby Ortense, and Cory Rywalt.

Players

James Famularo

Meridian Capital Group

Broker

$11.4M

vol

362 deals

Broker

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

689695.65%

Cash-on-Cash

-197117.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93