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
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