Corner Bistro Leases Retail Space At 94 Avenue A In East Village Manhattan For $100/ft
94 Avenue A
Building Size
6,000 SF
Asset Type
Retail
Closing
Jul 31, 2025
About this deal
AI
The transaction involves a retail lease located at 94 Avenue A in the East Village, Manhattan. The asset encompasses a leased space of 6,000 square feet with an asking rent of $100 per square foot. The lease type is a modified gross lease.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $600,000
- Landlord: Penn South Capital
- Tenant: Corner Bistro
- Landlord's Representative: Andrew Stern, Ravi Idnani & Julia Singer - Newmark
- Tenant's Representative: Joshua Singer & Nick Marshall - The Heller Organization
The deal features a notable representation from Newmark, which facilitated the transaction for Penn South Capital, while The Heller Organization represented the tenant, Corner Bistro, in this prominent retail deal. The lease reflects a collaborative effort among the involved parties to bring Corner Bistro to the East Village.
On the Map
Retail
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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
158630.00%
Cash-on-Cash
-45336.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93