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701 1st Avenue

Meridian Capital Group Represents The Greene Foundation In Retail Lease At 701 1st Avenue, Midtown East
LEASEDRetail

Meridian Capital Group Represents The Greene Foundation In Retail Lease At 701 1st Avenue, Midtown East

701 1st Avenue

$75

$75/SF

Building Size

2,000 SF

Asset Type

Retail

Closing

Jan 23, 2024

AI

The retail property located at 701 1st Avenue in Midtown East has been leased. The property spans an area of 2,000 square feet. The lease was facilitated by brokers James Famularo, Bobby Ortense, and Jacob Mayer from Meridian Capital Group. The asking rent for this retail lease was $75 per square foot.

Summary of transation details

  • Property Type: Retail
  • Asking Rent: $75/ft
  • Square Footage: 2,000

The landlord for this lease is Windsor Owners Corp, represented by Drew Moschella. The tenant, The Greene Foundation, has successfully secured the lease for the retail property at 701 1st Avenue.

Players

James Famularo

Meridian Capital Group

Broker

$11.4M

vol

374 deals

Broker

Drew Moschella

Windsor Owners Corp

Landlord

2 deals

Landlord

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