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302 8th Avenue

The Torkian Group Leases Retail Space To The Alchemy At 302 8th Avenue In Chelsea
LEASEDRetail

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

Richard Bailey

RJBRE

Broker

14 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

83489.47%

Cash-on-Cash

-23861.55%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93