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279 East 10th Street

Meridian Capital Group Facilitates Ricolicious Retail Lease In East Village
LEASEDRetail

Meridian Capital Group Facilitates Ricolicious Retail Lease In East Village

279 East 10th Street

$120

$120/SF

Building Size

600 SF

Asset Type

Retail

Closing

Feb 15, 2024

AI

The retail property located at 279 East 10th Street in the East Village, Manhattan, was leased to Ricolicious. The property, spanning 600 square feet, was leased for an asking rent of $120 per square foot. The lease was facilitated by Ben Biberaj and Sam Tucker of Meridian Capital Group acting on behalf of both the landlord, Steve Croman, and the tenant, Ricolicious.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Landlord: Steve Croman
  • Tenant: Ricolicious
  • BROKERS: Ben Biberaj & Sam Tucker - Meridian Capital Group

The deal involved Ben Biberaj and Sam Tucker of Meridian Capital Group serving as the brokers in the transaction between landlord Steve Croman and tenant Ricolicious. The successful leasing of the retail space marks a significant agreement in the vibrant neighborhood of the East Village in Manhattan.

Players

Ben Biberaj

IPRG Retail Leasing

Broker

$26.2M

vol

197 deals

Broker

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