Sol Ava Leases Retail Space To Vida Steak House At 511 Ninth Avenue For $115 Per Ft
511 Ninth Avenue
$684,000
$684,000/SF
Building Size
7,000 SF
Asset Type
Retail
Closing
May 31, 2026
About this deal
AI
The transaction involves a retail asset located at 511 Ninth Avenue within the Hell's Kitchen market. The property is leased at an asking rent of $115 per square foot with a total square footage of 6,000. The lease term is set for 10 years under a modified gross lease structure.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $115/ft
- Lease Term: 10 Years
- Lease Type: Modified Gross Lease
- Landlord: Sol Ava
- Tenant: Vida Steak House
- Brokers: Aryeh Vilinsky & Abraham Cohen - Tahari Realty
Aryeh Vilinsky and Abraham Cohen, representing Tahari Realty, played a significant role in facilitating this lease transaction, acting on behalf of the landlord and tenant in the agreement. Their expertise contributed to the successful arrangement between Sol Ava and Vida Steak House.
On the Map
$684,000
$684,000/SF
Retail
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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
23.19%
Cash-on-Cash
-6.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93