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
About this deal
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.
On the Map
$180
$180/SF
Retail
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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