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225 10th Avenue

Joseph Jemal Of Icer Properties Leases Retail Space To Pio Bagel In Chelsea For $175/ft
LEASEDRetail

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

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.

Players

David Green

Kassin Sabbagh Realty

Broker

$447M

vol

176 deals

Broker
Joseph Jemal

Joseph Jemal

ICER Properties

Landlord

$62.8M

vol

3 deals

Landlord

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