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
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