Republic Investment Company Leases Retail Space To Qahwah Valley Cafe At 630 1st Avenue
630 1st Avenue
$75
$75/SF
Building Size
2,500 SF
Asset Type
Retail
Closing
Mar 7, 2024
AI
The retail property located at 630 1st Avenue in Murray Hill was leased in a transaction involving landlord Ben Nehmadi of Republic Investment Company and tenant Qahwah Valley Cafe. The property spans 2,500 square feet with an asking rent of $75 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not Applicable
- Address: 630 1st Avenue
- Market: Murray Hill
- Landlord: Ben Nehmadi - Republic Investment Company
- Tenant: Qahwah Valley Cafe
- Landlord's Rep: John Roesch & Benny Sternberg - Meridian Capital Group
- Tenant's Rep: Ali Reslan - RDE Advisors
- Asking Rent: $75/ft
- Lease Type: Retail Lease
The deal was facilitated by John Roesch and Benny Sternberg from Meridian Capital Group representing the landlord, Ben Nehmadi, of Republic Investment Company. On the other side, Ali Reslan from RDE Advisors acted as the tenant's representative, securing the lease agreement for Qahwah Valley Cafe at the retail property.
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
211506.67%
Cash-on-Cash
-60449.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93