Aza Deli Leases Retail Space In Hell's Kitchen For $220/ft
587 10th Avenue
$220
$220/SF
Building Size
1,000 SF
Asset Type
Retail
Closing
Jun 20, 2023
About this deal
AI
The property involved in this lease transaction is a retail space located at 587 10th Avenue in Hell's Kitchen. The asset spans 1,000 square feet and was leased by Aza Deli. The deal was facilitated by brokers Aaron Aziz and Joshua Sarraf from Avenue Realty Advisors. The asking rent for the space was $220 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Not specified
- Date: 06/20/2023
- Address: 587 10th Avenue
- Market: Hell's Kitchen
- Landlord: Moshe Stareshefsky
- Tenant: Aza Deli
- Brokers: Aaron Aziz & Joshua Sarraf - Avenue Realty Advisors
- Asking Rent: $220/ft
- SF: 1,000
The lease transaction was successfully negotiated by Aaron Aziz and Joshua Sarraf, who acted as the brokers for Avenue Realty Advisors. The tenant, Aza Deli, will benefit from the retail space's prime location in Hell's Kitchen. The deal was facilitated by Moshe Stareshefsky, the landlord of the property.
Players
Market 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
72104.55%
Cash-on-Cash
-20607.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93