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:
- Property Type: Retail
- Transaction Amount: $143/ft
- Square Footage: 500 SF
- Address: 722 10th Avenue
- Market: Hell's Kitchen, Manhattan
- Landlord: Steven Croman
- Tenant: City Dispensary
- Landlord's Representative: Ben Biberaj & Nick Hanna - Meridian Capital Group
- Tenant's Representative: Dane Harlowe - Meridian Capital Group
- Lease Type: Modified Gross Lease
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
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