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940 3rd Avenue

Newself Bodywork Leases Entire 2nd Floor Retail Space At 940 Third Avenue In Sutton Place, Manhattan
LEASEDRetail

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:

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

Greg Goldberg

Meridian Capital Group

Broker

$4.3M

vol

72 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

264383.33%

Cash-on-Cash

-75561.57%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93