Village Finest Market Leases Retail Space At 361 6th Avenue In Greenwich Village
361 6th Avenue, New York City, New York 10014, United States
Building Size
1,200 SF
Asset Type
Retail
Closing
Jan 18, 2022
About this deal
AI
Village Finest Market has signed a lease for a retail space located at 361 6th Avenue in Greenwich Village. The property, measuring approximately 1,200 square feet, was secured by the tenant through the representation of Ori Melloul, Dorel Melloul, and David Green of Kassin Sabbagh Realty. The landlord of the space is Robert Gelpern. The lease was signed on January 19, 2022, with an asking rent of $180 per square foot.
Summary of Transaction Details
- Property Type: Retail
- Transaction Date: January 19, 2022
- Address: 361 6th Avenue
- Market: Greenwich Village
- Landlord: Robert Gelpern
- Tenant: Village Finest Market
- Brokers: Ori Melloul, Dorel Melloul, and David Green - Kassin Sabbagh Realty
- Asking Rent: $180 per square foot
- Square Footage: 1,200
The lease agreement was facilitated by Ori Melloul, Dorel Melloul, and David Green of Kassin Sabbagh Realty. These brokers successfully negotiated the terms on behalf of Village Finest Market, securing the retail space for their client. The deal was finalized with an asking rent of $180 per square foot, encompassing a lease area of 1,200 square feet. Their expertise in the Greenwich Village market was instrumental in ensuring a favorable agreement for both the tenant and 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