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
- Property Type: Retail
- Transaction Amount: Leased
- Address: 38 Avenue B, New York City
- Market: New York City
- Landlord: Centennial Properties
- Tenant: St Gerad
- Broker: Ben Biberaj & Elliot Wygoda, Meridian Capital Group
- Asking Rent: $180/ft
- SF: 400
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
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
88127.78%
Cash-on-Cash
-25187.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93