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
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