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
About this deal
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.
On the Map
$299,450
$299,450/SF
Retail
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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
52.97%
Cash-on-Cash
-15.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93