Newself Bodywork Leases Entire 2nd Floor Retail Space At 940 Third Avenue In Sutton Place, Manhattan
940 3rd Avenue
$60
$60/SF
Building Size
1,400 SF
Asset Type
Retail
Closing
Nov 22, 2023
AI
The retail space located at 940 Third Avenue on the entire 2nd floor in Sutton Place, Manhattan has been leased. The property, measuring 1,400 square feet, was leased by the tenant, Newself Bodywork. The landlord, Norman Rappaport, was represented by Greg Goldberg and Noam Aziz from Meridian Capital Group, while the tenant was represented by Yu Yong from Asian American Brokers. The lease transaction was completed on 11/22/2023.
Summary of transaction details:
- Property Type: Retail
- Address: 940 Third Avenue, Sutton Place, Manhattan
- Square Footage: 1,400
- Landlord: Norman Rappaport
- Tenant: Newself Bodywork
- Landlord's Rep: Greg Goldberg & Noam Aziz - Meridian Capital Group
- Tenant's Rep: Yu Yong - Asian American Brokers
- Asking Rent: $60/ft
The lease transaction for the retail space at 940 Third Avenue was successfully facilitated by Greg Goldberg and Noam Aziz from Meridian Capital Group representing the landlord, Norman Rappaport. On the tenant's side, Yu Yong from Asian American Brokers negotiated the terms and conditions. This deal highlights the strong presence of these reputable real estate professionals in the Sutton Place market.
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
264383.33%
Cash-on-Cash
-75561.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93