Market Ume Leases Retail Space At 256 West 38th Street From Rex Hakimian & Partners
256 West 38th Street
$80
$80/SF
Building Size
2,967 SF
Asset Type
Retail
Closing
Aug 10, 2026
About this deal
AI
The asset involved in this transaction is a retail property located at 256 West 38th Street in the Midtown East market. The asking rent for this property is $80 per square foot, and it encompasses a total area of 2,967 square feet. The lease type for this transaction is classified as a retail lease.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $80/ft
- Square Footage: 2,967 SF
- Address: 256 West 38th Street
- Market: Midtown East
- Landlord: Rex Hakimian, Jay Hakimian & Kevin Gorjian - Eight West
- Tenant: Market Ume
- Brokers: Carolina Aziz & Ike Bibi - KSR
This lease transaction involved key individuals and firms such as the landlords Rex Hakimian, Jay Hakimian, and Kevin Gorjian, representing Eight West. The tenant for the property is Market Ume. The brokers facilitating the arrangement are Carolina Aziz and Ike Bibi from KSR, who played crucial roles in finalizing the lease agreement.
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
198287.50%
Cash-on-Cash
-56671.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93