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493 2nd Avenue

Steven Croman Leases Retail Space To 2nd Avenue Pizza At 493 2nd Avenue In Kips Bay
LEASEDRetail

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:

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

Ben Biberaj

IPRG Retail Leasing

Broker

$26.2M

vol

197 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

132191.67%

Cash-on-Cash

-37780.78%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93