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359 2nd Avenue

Gramercy Retail Lease Closed By KSR With Carolina Aziz, Maddy Soffer & Ike Bibi
LEASEDRetail

Gramercy Retail Lease Closed By KSR With Carolina Aziz, Maddy Soffer & Ike Bibi

359 2nd Avenue

$105

$105/SF

Building Size

6,950 SF

Asset Type

Retail

Closing

Jun 26, 2024

AI

The retail property located at 359 2nd Avenue in Gramercy, Manhattan, was leased to Gramercy Market. The landlords of the property are Claudio Soifer and Ken Browne. Carolina Aziz, Maddy Soffer, and Ike Bibi of KSR represented the transaction as the brokers. The retail lease had an asking rent of $105 per square foot, with a total square footage of 6,950.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Address: 359 2nd Avenue, Gramercy, Manhattan
  • Tenant: Gramercy Market
  • Landlords: Claudio Soifer & Ken Browne
  • Brokers: Carolina Aziz, Maddy Soffer, & Ike Bibi - KSR
  • Asking Rent: $105 per square foot
  • Square Footage: 6,950

Carolina Aziz, Maddy Soffer, and Ike Bibi from KSR played crucial roles in facilitating the lease deal between the landlords and Gramercy Market. They were instrumental in finalizing the negotiation, representing their respective clients' interests throughout the process. Their expertise in the Gramercy retail market was pivotal in securing this transaction.

Players

Ike Bibi

Kassin Sabbagh Realty

Broker

$274.3M

vol

125 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

151076.19%

Cash-on-Cash

-43178.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93