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240 8th Avenue, Manhattan, ...

S&A Organic Market Leases Retail Space In Chelsea At 240 8th Avenue
LEASEDRetail

S&A Organic Market Leases Retail Space In Chelsea At 240 8th Avenue

240 8th Avenue, Manhattan, New York, NY, USA

Building Size

1,200 SF

Asset Type

Retail

Closing

Sep 27, 2021

AI

Anita Sapirman, the landlord, has successfully leased the retail property located at 240 8th Avenue in Chelsea. The property has a total square footage of 1,200 and was leased to S&A Organic Market. The tenant's representative, Michael Turovskiy from KSR, was instrumental in facilitating the deal. The landlord was represented by Harrison Abramowitz from Newmark. The asking rent for the property was $120/ft.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Market: Chelsea
  • Address: 240 8th Avenue
  • Landlord: Anita Sapirman
  • Tenant: S&A Organic Market
  • Tenant's Rep: Michael Turovskiy - KSR
  • Landlord's Rep: Harrison Abramowitz - Newmark

The successful lease transaction was made possible by the collaboration between the landlord, Anita Sapirman, and the tenant, S&A Organic Market. Michael Turovskiy, representing the tenant, worked closely with Harrison Abramowitz, the landlord's representative from Newmark, to negotiate the terms of the lease agreement. The retail property on 240 8th Avenue offers an ideal location for S&A Organic Market to establish their presence in the Chelsea market.

Players

Harrison Abromowitz

Newmark

Broker

3 deals

Broker

New York Retail Market Snapshot

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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