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
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