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268 East 7th Street

Kove Signs Modified Gross Lease At 268 East 7th Street With Landlord Drew Popkin
LEASEDRetail

Kove Signs Modified Gross Lease At 268 East 7th Street With Landlord Drew Popkin

268 East 7th Street

$40

$40/SF

Building Size

1,309 SF

Asset Type

Retail

Closing

Aug 4, 2025

AI

The retail property located at 268 East 7th Street in the East Village, Manhattan, has a lease type categorized as Modified Gross Lease. The property spans a total square footage of 1,309 and has an asking rent of $40 per square foot.

Summary of transaction details:

The transaction involved key representatives from Meridian Capital Group, with James Famularo, Cole Kleppinger, and Bobby Ortense representing the landlord, Drew Popkin. The tenant, Kove, was represented by CBRE in this leasing transaction.

Players

James Famularo

Meridian Capital Group

Broker

$11.4M

vol

362 deals

Broker
CBRE
CBREBrokerage

Drew Popkin

Highpoint Property Group

Landlord

$78.1M

vol

11 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

396575.00%

Cash-on-Cash

-113342.35%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93