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:
- Property Type: Retail
- Transaction Amount: $40/ft
- Address: 268 East 7th Street
- Market: East Village, Manhattan
- Landlord: Drew Popkin - Highpoint Property Group
- Tenant: Kove
- Landlord's Rep: James Famularo, Cole Kleppinger & Bobby Ortense - Meridian Capital Group
- Tenant's Rep: CBRE
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
New York Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
Loading comparables…
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