Eric Liu's Dim Sum Garden Leases Retail Space At 338 Lexington Ave. In Murray Hill
338 Lexington Ave, Manhattan, New York, NY, USA
Building Size
3,000 SF
Asset Type
Retail
Closing
May 2, 2021
About this deal
AI
The retail property located at 338 Lexington Ave. in Murray Hill has been leased. The transaction took place on 05/03/2021, and the property is owned by Larry Marolda of Marolda Equities. The tenant, Eric Liu, will be operating Dim Sum Garden 🥟 at this location. The leasing deal was facilitated by James Famularo of Meridian Retail Leasing.
Summary of transation details
- Property Type: Retail
- Transaction Amount: Not disclosed
- Address: 338 Lexington Ave.
- Market: Murray Hill
The lease agreement for the retail space at 338 Lexington Ave. was finalized with an asking rent of $135 per square foot for a total of 3,000 square feet.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93