Crumbl Cookies Leases Retail Space At 238 7th Avenue In Chelsea
238 7th Avenue
Building Size
1,600 SF
Asset Type
Retail
Closing
Nov 3, 2022
AI
The retail property located at 238 7th Avenue in Chelsea has been leased. The asset spans approximately 1,600 square feet. The landlord, CK Luk, successfully leased the space to the tenant, Crumbl Cookies. The transaction was facilitated by the tenant's representative, Adam Agus & Greg Parassio from Booth Street Realty, and the landlord's representative, Craig Slosberg from Newmark. The asking rent for the property was $130 per square foot.
Summary of transation details
- Property Type: Retail
- Transaction Amount: N/A
- Address: 238 7th Avenue
- Market: Chelsea
- Landlord: CK Luk
- Tenant: Crumbl Cookies
- Landlord's Representative: Craig Slosberg - Newmark
- Tenant's Representative: Adam Agus & Greg Parassio - Booth Street Realty
- Asking Rent: $130/ft.
- Square Footage: 1,600
Adam Agus & Greg Parassio from Booth Street Realty represented Crumbl Cookies in the lease deal. Craig Slosberg from Newmark served as the landlord's representative, assisting CK Luk.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93