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355 East 78th Street, New Y...

Le Petit Parisien Leases Retail Space At 355 East 78th Street On Upper East Side
LEASEDRetail

Le Petit Parisien Leases Retail Space At 355 East 78th Street On Upper East Side

355 East 78th Street, New York City, New York 10075, United States

Building Size

1,600 SF

Asset Type

Retail

Closing

May 18, 2022

AI

The retail space located at 355 East 78th Street in the Upper East Side of New York City has recently been leased. The property, spanning 1,600 square feet, was leased by Le Petit Parisien. The transaction took place on May 19, 2022, and was facilitated by Matthew Fogel and George Skaliarinis from KSR, representing the tenant. On the landlord's side, Stephen Weber, Adam Heller, and Josh Singer from the Heller Organization acted as representatives for Keren Associates, the landlord. The asking rent for the space was $150 per square foot.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Not mentioned
  • Address: 355 East 78th Street
  • Market: Upper East Side

The leasing of this retail space marks an important addition to the vibrant Upper East Side market. Le Petit Parisien, a tenant known for its unique French-inspired offerings, will contribute to the diverse retail scene in the area. The deal was successfully negotiated by Matthew Fogel and George Skaliarinis from KSR, who represented the tenant's interests. On the other side of the transaction, Stephen Weber, Adam Heller, and Josh Singer from the Heller Organization played a vital role in ensuring a smooth leasing process for Keren Associates, the landlord.

Players

Matthew Fogel

Kassin Sabbagh Realty

Broker

21 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93