Sushi Tokyo Leases Retail Space At 521 East 12th Street Represented By Meridian Capital Group
521 East 12th Street
$164
$164/SF
Building Size
730 SF
Asset Type
Retail
Closing
Sep 27, 2024
AI
The retail asset located at 521 East 12th Street in the East Village has a total square footage of 1,000. The lease for this property has been finalized under a Modified Gross Lease, with an asking rent of $144 per square foot.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $144/ft
- Square Footage: 1,000
- Lease Type: Modified Gross Lease
- Landlord: GPS Realty
- Tenant: Sushi Tokyo
- Landlord's Rep: Ben Biberaj & Eli Marcus - Meridian Capital Group
- Tenant's Rep: Noam Aziz & Carson Shahrabani - Meridian Capital Group
The key individuals involved in this transaction include Ben Biberaj and Eli Marcus, who represent the landlord, and Noam Aziz and Carson Shahrabani, representing the tenant. All four individuals are from Meridian Capital Group.
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
96725.61%
Cash-on-Cash
-27644.48%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93