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256 West 38th Street

Updated Aug 20, 2026

Market Ume Leases Retail Space At 256 West 38th Street From Rex Hakimian & Partners
LEASEDRetail

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

Ike Bibi

Kassin Sabbagh Realty

Broker

$274.3M

vol

126 deals

Broker

New York Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

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Deal FAQ

About $80 per square foot on a published $80 for 2,967 square feet (2026).

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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

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