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58 2nd Avenue

Leo Sabet Leases Retail Space To Okiboru Bakery At 58 2nd Avenue In East Village
LEASEDRetail

Leo Sabet Leases Retail Space To Okiboru Bakery At 58 2nd Avenue In East Village

58 2nd Avenue

$299,450

$299,450/SF

Building Size

2,650 SF

Asset Type

Retail

Closing

Aug 18, 2025

AI

The property asset involved in this lease transaction is a retail space located at 58 2nd Avenue within the East Village market of Manhattan. This retail property has a total square footage of 2,650, with an asking rent of $113 per square foot. The lease type for this transaction is a Modified Gross Lease.

Summary of transation details:

  • Property Type: Retail
  • Transaction Amount: $113/ft
  • Address: 58 2nd Avenue
  • Market: East Village, Manhattan
  • Landlord: Leo Sabet
  • Tenant: Okiboru Bakery
  • Landlord's Rep: Greg Goldberg - Meridian Capital Group
  • Tenant Rep: Jason Chiu - Edge Realty Advisors

This transaction highlights the roles played by key individuals and companies in the lease agreement. Greg Goldberg from Meridian Capital Group represents the landlord, while Jason Chiu from Edge Realty Advisors represents the tenant, Okiboru Bakery. Their involvement facilitates the leasing process between the parties.

Players

Greg Goldberg

Meridian Capital Group

Broker

$4.3M

vol

71 deals

Broker
Edge Realty Advisors
Edge Realty AdvisorsBrokerage

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

52.97%

Cash-on-Cash

-15.14%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93