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838 2nd Avenue, Manhattan, ...

Aji Sushi Leases Retail Space In Midtown East For $180/ft
LEASEDRetail

Aji Sushi Leases Retail Space In Midtown East For $180/ft

838 2nd Avenue, Manhattan, New York, NY, USA

Building Size

1,000 SF

Asset Type

Retail

Closing

Nov 8, 2021

AI

An retail space located at 838 Second Ave in Midtown East has been leased. The property, spanning 1,000 square feet, was leased to Aji Sushi. The deal was facilitated by the brokers Ben Biberaj and Alex Imperatore from Meridian Retail Leasing. The landlord in this transaction is Hildreth Advisors.

Summary of transation details

  • Property Type: Retail
  • Transaction Date: 11/08/2021
  • Address: 838 Second Ave.
  • Market: Midtown East
  • Landlord: @Hildreth.Advisors
  • Tenant: Aji Sushi
  • Brokers: Ben Biberaj & Alex Imperatore - Meridian Retail Leasing
  • Asking Rent: $180/ft.
  • Square Footage: 1,000

Ben Biberaj and Alex Imperatore from Meridian Retail Leasing played a pivotal role in facilitating the lease of the retail space. The landlord, Hildreth Advisors, agreed to lease the property to Aji Sushi. The terms of the lease included an asking rent of $180 per square foot for the 1,000 square foot space.

Players

Ben Biberaj

IPRG Retail Leasing

Broker

$26.2M

vol

192 deals

Broker

New York Retail Market Snapshot

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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