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493 2nd Avenue, New York Ci...

Peppas Jerk Chicken Leases Retail Space In New York's Second Ave. With Landlord Steve Croman And Broker Ben Biberaj - Meridian Retail Leasing
LEASEDRetail

Peppas Jerk Chicken Leases Retail Space In New York's Second Ave. With Landlord Steve Croman And Broker Ben Biberaj - Meridian Retail Leasing

493 2nd Avenue, New York City, New York 10016, United States

Building Size

750 SF

Asset Type

Retail

Closing

Sep 11, 2022

AI

The retail property located at 493 Second Ave in New York has been leased. The lease transaction took place on 09/12/2022. The property, with a total square footage of 750, was leased by Peppas Jerk Chicken. The landlord for this lease is Steve Croman. The asking rent for the property was $140 per square foot.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Not applicable (lease)
  • Lease Date: 09/12/2022
  • Address: 493 Second Ave, New York
  • Tenant: Peppas Jerk Chicken
  • Landlord: Steve Croman
  • Asking Rent: $140/ft.
  • Total Square Footage: 750

The lease deal was facilitated by Ben Biberaj from Meridian Retail Leasing, who represented the tenant, Peppas Jerk Chicken, in this transaction.

Players

Ben Biberaj

IPRG Retail Leasing

Broker

$26.2M

vol

192 deals

Broker
Steve Croman

Steve Croman

Centennial Properties

Landlord

$50.1M

vol

40 deals

Landlord
JC
Jerk ChickenTenant

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