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:
- Property Type: Retail
- Transaction Amount: $193/ft
- Lease Type: Modified Gross Lease
- Landlord: Feras Qassis
- Tenant: Leslie
- Landlord's Representative: James Famularo & Bobby Ortense - Meridian Capital Group
- Tenant's Representative: Garrett Kelly & Cole Kleppinger - Meridian Capital Group
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
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