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728 8th Avenue

Zhoumapo Leases Retail Space At 728 8th Avenue Midtown Manhattan With Andrew Stern & Ravi Idnani As Landlord's Rep
LEASEDRetail

Zhoumapo Leases Retail Space At 728 8th Avenue Midtown Manhattan With Andrew Stern & Ravi Idnani As Landlord's Rep

728 8th Avenue

$113

$113/SF

Building Size

5,800 SF

Asset Type

Retail

Closing

Jan 16, 2025

AI

The asset involved in this transaction is a retail space located at 728 8th Avenue in Midtown Manhattan. The property has a square footage of 5,800 and is under a modified gross lease agreement with an asking rent of $113 per square foot.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $113/ft
  • Square Footage: 5,800
  • Address: 728 8th Avenue
  • Market: Midtown Manhattan
  • Landlord: Chris Lamotta
  • Tenant: Zhoumapo
  • Landlord's Representative: Andrew Stern & Ravi Idnani - Newmark
  • Tenant's Representative: John Roesch
  • Lease Type: Modified Gross Lease

This transaction highlights the key roles of the representatives involved. Andrew Stern and Ravi Idnani from Newmark represent the landlord Chris Lamotta, while John Roesch represents the tenant Zhoumapo in this lease agreement.

Players

John Roesch

Meridian Capital Group

Broker

97 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

140380.53%

Cash-on-Cash

-40121.19%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93