The Torkian Group Leases Retail Space To The Alchemy At 302 8th Avenue In Chelsea
302 8th Avenue
$190
$190/SF
Building Size
3,200 SF
Asset Type
Retail
Closing
Sep 1, 2024
AI
The property asset involved in the transaction is a retail space located at 302 8th Avenue in the Chelsea market. The asking rent for the property is $190 per square foot, and the total square footage of the space is 3,200. The lease type for this transaction is defined as a retail lease.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $190/ft
- Address: 302 8th Avenue
- Market: Chelsea
- Asset Size: 3,200 SF
- Landlord: The Torkian Group
- Tenant: The Alchemy
- Landlord's Representative: Nevin Danziger
- Tenant's Representatives: Abe Smouha, Richard Bailey - RJBRE
Key individuals in this transaction include Nevin Danziger representing the landlord, The Torkian Group, and tenant representatives Abe Smouha and Richard Bailey from RJBRE, overseeing the agreement on behalf of The Alchemy.
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
83489.47%
Cash-on-Cash
-23861.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93