Steven Croman Leases Retail Space To 2nd Avenue Pizza At 493 2nd Avenue In Kips Bay
493 2nd Avenue
$120
$120/SF
Building Size
700 SF
Asset Type
Retail
Closing
Apr 29, 2025
AI
The property asset involved in this transaction is a retail space located at 493 2nd Avenue in the Kips Bay neighborhood of Manhattan. The asking rent for this asset is $120 per square foot for a total of 700 square feet. The lease type is a Single Net Lease.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $120/ft
- Address: 493 2nd Avenue
- Market: Kips Bay, Manhattan
- Landlord: Steven Croman
- Tenant: 2nd Avenue Pizza
- Brokers: Ben Biberaj & Elliot Wygoda - Meridian Capital Group
- Lease Type: Single Net Lease
In this transaction, the tenant, 2nd Avenue Pizza, has secured a lease agreement with the landlord, Steven Croman. The representatives for this deal were Ben Biberaj and Elliot Wygoda from Meridian Capital Group, acting on behalf of the involved parties.
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
132191.67%
Cash-on-Cash
-37780.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93