La Belle Epoque Leases Retail Space At 71 8th Avenue In Chelsea
71 8th Avenue, Chelsea, New York, NY, USA
Building Size
2,230 SF
Asset Type
Retail
Closing
Jun 4, 2020
AI
A lease transaction has taken place in Chelsea, specifically at 71 8th Avenue. The asset involved in this deal is a retail space. La Belle Epoque is the tenant who has secured this lease, with Raymond Levy being the landlord. Jordan Raphan and Michael Turovskiy from Kassin Sabbagh Realty acted as the brokers for this transaction.
Summary of transaction details
- Property Type: Retail
- Lease Date: 06/04/2021
- Address: 71 8th Avenue
- Market: Chelsea
The lease deal was facilitated by Jordan Raphan and Michael Turovskiy from Kassin Sabbagh Realty. They represented the tenant, La Belle Epoque, in securing the lease agreement with Raymond Levy, the landlord. The transaction involved a lease of 2,230 square feet of retail space at an asking rent of $120 per square foot.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93