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514 3rd Avenue

Feras Qassis Leases Retail Space At 514 3rd Avenue To Leslie With Meridian Capital Group
LEASEDRetail

Feras Qassis Leases Retail Space At 514 3rd Avenue To Leslie With Meridian Capital Group

514 3rd Avenue

$193

$193/SF

Building Size

1,550 SF

Asset Type

Retail

Closing

May 1, 2025

AI

This retail lease transaction occurred at 514 3rd Avenue in the Murray Hill market. The asking rent was set at $193 per square foot with a total area of 1,550 square feet. The lease type is a Modified Gross Lease.

Summary of transaction details:

The transaction involved notable representatives from Meridian Capital Group, with James Famularo and Bobby Ortense representing the landlord, while Garrett Kelly and Cole Kleppinger represented the tenant. Their involvement underscores a professional representation in securing the lease agreement.

Players

James Famularo

Meridian Capital Group

Broker

$11.4M

vol

365 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

82191.71%

Cash-on-Cash

-23490.64%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93