Royal Hemp Leases Retail Space At 345 7th Avenue In Midtown West With Brokers Ike Bibi, Carolina Aziz, David Green & Ori Melloul - KSR
345 7th Ave New York, NY 10001, USA
$245
$245/SF
Building Size
1,500 SF
Asset Type
Retail
Closing
Jul 13, 2023
About this deal
AI
Namdar Realty Group has leased a retail space located at 345 7th Avenue in Midtown West. The property, measuring 1,500 square feet in size, was leased by Royal Hemp. The deal was facilitated by brokers Ike Bibi, Carolina Aziz, David Green, and Ori Melloul from KSR. The asking rent for the space was $245 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Lease
- Address: 345 7th Avenue
- Market: Midtown West
- Tenant: Royal Hemp
- Landlord: Namdar Realty Group
- Brokers: Ike Bibi, Carolina Aziz, David Green, and Ori Melloul - KSR
- Asking Rent: $245/ft
- Square Footage: 1,500
This lease transaction was successfully closed with the involvement of key individuals and companies. Namdar Realty Group, as the landlord, agreed to lease the retail space to Royal Hemp. Representing both parties, brokers Ike Bibi, Carolina Aziz, David Green, and Ori Melloul from KSR worked diligently to negotiate terms and ensure a satisfactory agreement.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
64746.94%
Cash-on-Cash
-18504.87%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93