Samy Mahfar Leases Retail Space To Sakura Mini Market At 299 3rd Avenue In Gramercy Park
299 3rd Avenue
$225
$225/SF
Building Size
2,162 SF
Asset Type
Retail
Closing
Sep 1, 2025
About this deal
AI
The asset involved in this transaction is a retail property located at 299 3rd Avenue in Gramercy Park. It encompasses a total area of 2,162 square feet and is leased under a Modified Gross Lease at an asking rent of $225 per square foot.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $225/ft
- Square Footage: 2,162
- Address: 299 3rd Avenue
- Market: Gramercy Park
- Landlord: Samy Mahfar
- Tenant: Sakura Mini Market
- Landlord's Rep: Noam Aziz & Garrett Kelly - Meridian Capital Group
- Tenant's Rep: Kyle Fink - Meridian Capital Group
- Lease Type: Modified Gross Lease
In this transaction, the landlord, Samy Mahfar, is represented by Noam Aziz and Garrett Kelly from Meridian Capital Group, while the tenant, Sakura Mini Market, is represented by Kyle Fink, also of Meridian Capital Group. This collaboration highlights the involvement of key professionals in the retail lease agreement.
On the Map
$225
$225/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
70502.22%
Cash-on-Cash
-20149.75%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93