Jonathan Leifer Leases Retail Space To Carvel & Cinnabon At 251 8th Avenue In Chelsea
251 8th Avenue
$180
$180/SF
Building Size
1,000 SF
Asset Type
Retail
Closing
Feb 13, 2025
AI
The property asset involved in the transaction is a retail space located at 251 8th Avenue in the Chelsea market. The lease type is a retail lease, with an asking rent of $180 per square foot for a total area of 1,000 square feet.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $180/ft
- Square Footage: 1,000
- Address: 251 8th Avenue
- Market: Chelsea
- Landlord: Jonathan Leifer
- Tenant: Carvel & Cinnabon
- Landlord's Representative: Ryan Adhami - Schuckman Realty
- Tenant's Representatives: Freddy Souid & Jack Hamadani - KSR
The lease agreement marks the partnership between landlord Jonathan Leifer and tenants Carvel & Cinnabon, with representation provided by Ryan Adhami from Schuckman Realty and Freddy Souid alongside Jack Hamadani from KSR. This collaboration reflects their roles in facilitating the lease transaction.
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
88127.78%
Cash-on-Cash
-25187.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93