Parag Sawhney Leases Retail Space To NYC Thin Crust Pizza At 261 Bowery In Lower East Side
261 Bowery
$120
$120/SF
Building Size
2,500 SF
Asset Type
Retail
Closing
Sep 10, 2025
About this deal
AI
The asset involved in this lease transaction is a retail property located at 261 Bowery in the Lower East Side market. The property encompasses a space of 2,500 square feet with an asking rent of $120 per square foot. It operates under a Modified Gross Lease agreement.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $300,000
- Landlord: Parag Sawhney
- Tenant: NYC Thin Crust Pizza
- Brokers: Noam Aziz, Carson Shahrabani & Garrett Kelly - Meridian Capital Group
- Lease Type: Modified Gross Lease
This transaction was facilitated by brokers Noam Aziz, Carson Shahrabani, and Garrett Kelly, representing the landlord and tenant in the deal. Their involvement denotes a collaborative effort within the Meridian Capital Group to secure this retail leasing agreement.
On the Map
$120
$120/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
132191.67%
Cash-on-Cash
-37780.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93