Tri Coffee Corp. Leases Retail Space At 355 7th Ave. In Penn Plaza
355 7th Avenue, New York City, New York 10001, United States
Building Size
1,100 SF
Asset Type
Retail
Closing
Jan 9, 2022
AI
Tri Coffee Corp has signed a lease for a retail space located at 355 7th Ave in Penn Plaza, according to recent reports. The property, measuring approximately 1,100 square feet, was leased from landlord Ezra Aini of Aini Assets. The deal was facilitated by brokers David Green, Ike Bibi, and David Sabbagh of KSR. The lease agreement was finalized on January 10, 2022, with an asking rent of $220 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Date: January 10, 2022
- Address: 355 7th Ave
- Market: Penn Plaza
- Landlord: Ezra Aini - Aini Assets
- Tenant: Tri Coffee Corp.
- Brokers: David Green, Ike Bibi, and David Sabbagh - KSR
- Asking Rent: $220/ft
- Square Footage: 1,100
This deal marks an important milestone for Tri Coffee Corp as they secure their presence in Penn Plaza. With the help of brokers David Green, Ike Bibi, and David Sabbagh from KSR, the lease agreement was successfully negotiated with landlord Ezra Aini of Aini Assets. Tri Coffee Corp will now be able to serve customers in their new retail space located at 355 7th Ave.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93