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344 3rd Avenue

Manhattan Dental Group Leases Retail Space In Kips Bay For $150/ft
LEASEDRetail

Manhattan Dental Group Leases Retail Space In Kips Bay For $150/ft

344 3rd Avenue

$150

$150/SF

Building Size

2,400 SF

Asset Type

Retail

Closing

Apr 4, 2024

AI

The property at 344 3rd Avenue, located in the Kips Bay area of Manhattan, was leased for a retail purpose. The transaction involved an asking rent of $150 per square foot for the 2,400 square feet space. The landlord, Robert Kalimian of Black Diamond Equity Management, leased the property to Manhattan Dental Group. The landlord's representatives in the deal were Ike Bibi, Solomon Tbeile, and David Green from KSR, while the tenant was represented by Daniel Lolai from LSL Advisors.

Summary of transation details:

  • Property Type: Retail
  • Transaction Amount: Not provided
  • Landlord: Robert Kalimian - Black Diamond Equity Management
  • Tenant: Manhattan Dental Group
  • Landlord's Rep: Ike Bibi, Solomon Tbeile & David Green - KSR
  • Tenant's Rep: Daniel Lolai - LSL Advisors
  • Address: 344 3rd Avenue
  • Market: Kips Bay, Manhattan
  • Lease Type: Retail Lease

The collaboration between the parties involved in the lease deal highlights the efforts of key individuals such as Ike Bibi, Solomon Tbeile, David Green, Robert Kalimian, and Daniel Lolai. Black Diamond Equity Management, represented by Robert Kalimian, facilitated the agreement with Manhattan Dental Group, guided by Ike Bibi, Solomon Tbeile, and David Green from KSR, and Daniel Lolai from LSL Advisors.

Players

Daniel Lolai

LSL Advisors

Broker

$211.9M

vol

92 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

105753.33%

Cash-on-Cash

-30224.63%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93