Tarkan Cafe Leases Retail Space At 637 10th Avenue In Hell's Kitchen For 10 Years
637 10th Avenue
$262
$262/SF
Building Size
1,100 SF
Asset Type
Retail
Closing
Mar 9, 2026
AI
The asset involved in this transaction is a retail property located at 637 10th Avenue in the Hell's Kitchen market. The lease has been agreed upon with an asking rent of $262 per square foot for a total space of 1,100 square feet. The lease term is established for 10 years, categorized under a modified gross lease structure.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $262/ft
- Square Footage: 1,100
- Lease Term: 10 Years
- Lease Type: Modified Gross Lease
- Landlord: Joseph Giaimo
- Tenant: Tarkan Cafe
- Brokers: Ben Biberaj - IPRG Retail Leasing; Desi Avidane - Investment Property Realty Group; Patrick Mills - CORE NYC
Key individuals involved in this deal include the landlord Joseph Giaimo and tenant Tarkan Cafe, with brokers Ben Biberaj, Desi Avidane, and Patrick Mills representing their respective parties in this transaction.
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
60545.80%
Cash-on-Cash
-17304.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93