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862 9th Avenue

Cannadreams Inc Leases Retail Space At 862 9th Avenue In Hell's Kitchen With Abe Smouha's Representation
LEASEDRetail

Cannadreams Inc Leases Retail Space At 862 9th Avenue In Hell's Kitchen With Abe Smouha's Representation

862 9th Avenue

$200

$200/SF

Building Size

1,600 SF

Asset Type

Retail

Closing

Jul 3, 2024

AI

The retail property located at 862 9th Avenue in the Hell's Kitchen market of Manhattan has a lease in place with Cannadreams Inc. The asking rent for this asset is $101 per square foot for a total area of 3,000 square feet.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $101/ft
  • Address: 862 9th Avenue
  • Market: Hell's Kitchen, Manhattan
  • Landlord: 862 9th Ave Associates
  • Landlord's Representative: Edward Tempesta
  • Tenant: Cannadreams Inc
  • Tenant's Representative: Abe Smouha - RJB Real Estate
  • Lease Type: Retail Lease
  • Square Footage: 3,000

The landlord, represented by Edward Tempesta, successfully secured Cannadreams Inc as a tenant in the lease transaction. Abe Smouha of RJB Real Estaterepresented Cannadreams Inc, facilitating their entry into the Hell's Kitchen area. RJBRE also noted their enthusiasm in bringing Cannadreams to this location.

Players

Abraham Smouha

Corepoint RE

Broker

12 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

79315.00%

Cash-on-Cash

-22668.47%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93