Crystal Velez Leases Retail Space At 967 Columbus Avenue In Manhattan Valley For $109 Per Ft
967 Columbus Avenue
$109
$109/SF
Building Size
550 SF
Asset Type
Retail
Closing
Mar 5, 2025
AI
The property involved in this transaction is a retail asset located at 967 Columbus Avenue in the Manhattan Valley market. The asking rent for this asset is $109 per square foot, encompassing a total area of 550 square feet. The lease type agreed upon is a Modified Gross Lease.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $109/ft
- Square Footage: 550
- Address: 967 Columbus Avenue
- Market: Manhattan Valley
- Landlord: Steve Oved
- Tenant: Crystal Velez
- Brokers: Noam Aziz & Eli Marcus - Meridian Capital Group
This transaction involves key individuals from Meridian Capital Group, with brokers Noam Aziz and Eli Marcus representing the parties in this lease agreement. Their involvement was critical to facilitating the lease deal between landlord Steve Oved and tenant Crystal Velez.
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
145532.11%
Cash-on-Cash
-41593.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93