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299 3rd Avenue

Samy Mahfar Leases Retail Space To Sakura Mini Market At 299 3rd Avenue In Gramercy Park
LEASEDRetail

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

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.

Players

Garrett Kelly

Meridian Capital Group

Broker

60 deals

Broker

Samy Mahfar

Landlord

$295M

vol

10 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

70502.22%

Cash-on-Cash

-20149.75%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93