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251 8th Avenue

Jonathan Leifer Leases Retail Space To Carvel & Cinnabon At 251 8th Avenue In Chelsea
LEASEDRetail

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

Jack Hamadani

Kassin Sabbagh Realty

Broker

46 deals

Broker

Jonathan Leifer

Landlord

$57.5M

vol

4 deals

Landlord

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