Joseph Jemal Of Icer Properties Leases Retail Space To Pio Bagel In Chelsea For $175/ft
225 10th Avenue
$175
$175/SF
Building Size
1,100 SF
Asset Type
Retail
Closing
Apr 30, 2026
About this deal
AI
The property asset involved in the transaction is located at 225 10th Avenue, in the Chelsea market of Manhattan. The asset type is retail, with a lease type designated as a Single Net Lease. The asking rent for the property is $175 per square foot, with a total square footage of 1,100 SF.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $175/ft
- Address: 225 10th Avenue
- Market: Chelsea, Manhattan
- Landlord: Joseph Jemal - Icer Properties
- Tenant: Pio Bagel
- Landlord's Rep: David Green, Benjamin (Ben) Namdar & Ariel Ilian - KSR
- Tenant's Rep: Carson Shahrabani & Noam Aziz - Meridian Capital Group
- Lease Type: Single Net Lease
- Square Footage: 1,100
Key individuals involved in the negotiation include Joseph Jemal, representing the landlord Icer Properties, and tenant Pio Bagel, represented by Carson Shahrabani and Noam Aziz from Meridian Capital Group. The landlord's interests were represented by David Green, Benjamin (Ben) Namdar, and Ariel Ilian, all from KSR.
On the Map
$175
$175/SF
Retail
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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
90645.71%
Cash-on-Cash
-25906.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93