Manhattan Barbershop NYC Signs Modified Gross Lease For Retail Space In Chelsea, Manhattan
238 8th Avenue
$150
$150/SF
Building Size
1,250 SF
Asset Type
Retail
Closing
Nov 1, 2023
About this deal
AI
The retail property at 238 8th Avenue in Chelsea, Manhattan has been leased. The property spans 1,250 square feet and was leased under a Modified Gross Lease agreement. The asking rent for the space was set at $150 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 238 8th Avenue, Chelsea, Manhattan
- Market: Chelsea, Manhattan
- Landlord: Roger Schechter
- Tenant: Manhattan Barbershop NYC
- Landlord's Rep: Andrew Stern & Ravi Idnani - Newmark
- Tenant's Rep: Albert Halawani - Kassin Sabbagh Realty
- Asking Rent: $150/ft
- Square Footage: 1,250
- Lease Type: Modified Gross Lease
The landlord, Roger Schechter, leased the property to Manhattan Barbershop NYC. Representing the landlord in the deal were Andrew Stern and Ravi Idnani from Newmark. Albert Halawani from Kassin Sabbagh Realty served as the tenant's representative.
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
105753.33%
Cash-on-Cash
-30224.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93