facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Retail

/

Lease

/

71 8th Avenue, Chelsea, New...

La Belle Epoque Leases Retail Space At 71 8th Avenue In Chelsea
LEASEDRetail

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

Jordan Raphan

Kassin Sabbagh Realty

Broker

40 deals

Broker

Raymond Levy

Landlord

$101.8M

vol

8 deals

Landlord

New York Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

Loading comparables…

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