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722 10th Avenue

City Dispensary Leases Retail Space At 722 10th Avenue In Hell's Kitchen For $143/ft
LEASEDRetail

City Dispensary Leases Retail Space At 722 10th Avenue In Hell's Kitchen For $143/ft

722 10th Avenue

$143

$143/SF

Building Size

500 SF

Asset Type

Retail

Closing

May 4, 2025

AI

This retail asset is located at 722 10th Avenue in the Hell's Kitchen neighborhood of Manhattan. The leased space covers a total of 500 square feet and involves a modified gross lease with an asking rent of $143 per square foot.

Summary of transaction details:

The transaction involves significant players including the landlord, Steven Croman, and the tenant, City Dispensary, both represented by a team from Meridian Capital Group, showcasing a collaborative effort in securing the lease agreement.

Players

Ben Biberaj

IPRG Retail Leasing

Broker

$26.2M

vol

197 deals

Broker

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

110930.07%

Cash-on-Cash

-31704.15%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93