Terence Wu Leases Retail Space At 67 Avenue C To Real Dads Network For $49/ft
67 Avenue C
$49
$49/SF
Building Size
1,850 SF
Asset Type
Retail
Closing
Aug 14, 2024
AI
The property involved in this transaction is a retail space located at 67 Avenue C in the East Village. It features a total square footage of 1,850 and operates under a Modified Gross Lease agreement. The asking rent for this location is set at $49 per square foot.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $49/ft
- Square Footage: 1,850
- Landlord: Terence Wu
- Tenant: Real Dads Network
- Brokers: Isaac Abed & Chandler Slate - Tri State Commercial Realty
The individuals involved in this deal include the landlord Terence Wu and the tenant Real Dads Network, who will occupy the retail space. The transaction was facilitated by brokers Isaac Abed and Chandler Slate from Tri State Commercial Realty, representing the interests of both parties in the leasing agreement.
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
323734.69%
Cash-on-Cash
-92524.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93