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38 Avenue B, New York, NY 1...

Updated Oct 29, 2024

St Gerad Leases Retail Space At 38 Avenue B In New York City
LEASEDRetail

St Gerad Leases Retail Space At 38 Avenue B In New York City

38 Avenue B, New York, NY 10009

$180

$180/SF

Building Size

400 SF

Asset Type

Retail

Closing

Jul 21, 2023

About this deal

AI

The retail property located at 38 Avenue B in New York City has recently been leased. The property, managed by Centennial Properties, will be occupied by the tenant St Gerad. The leasing transaction was facilitated by brokers Ben Biberaj and Elliot Wygoda of Meridian Capital Group. The property has an asking rent of $180 per square foot, with a total area of 400 square feet.

Summary of transaction details

The deal involved the collaboration between Centennial Properties, the landlord, and St Gerad, the tenant. Acting as the brokers in this transaction were Ben Biberaj and Elliot Wygoda from Meridian Capital Group. This lease agreement showcases the active role that these individuals and companies play in the New York City retail market, facilitating business opportunities for both landlords and tenants.

Players

Ben Biberaj

IPRG Retail Leasing

Broker

$26.2M

vol

204 deals

Broker
Centennial Properties
Centennial PropertiesLandlord

New York Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

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Deal FAQ

About $180 per square foot on a published $180 for 400 square feet (2023).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

88127.78%

Cash-on-Cash

-25187.19%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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