Banh EV Signs Retail Lease At 99 3rd Avenue With Landlord Steven Corman
99 3rd Avenue
$171
$171/SF
Building Size
1,400 SF
Asset Type
Retail
Closing
Aug 2, 2024
About this deal
AI
The retail asset located at 99 3rd Avenue in Manhattan has a lease type classified as a Retail Lease. The asking rent is set at $171 per square foot for a total space of 1,400 square feet.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $171/ft
- Address: 99 3rd Avenue
- Market: Manhattan
- Landlord: Steven Corman - Centennial Properties
- Tenant: Banh EV
- Landlord's Representative: Ben Biberaj & Sam Tucker - Meridian Capital Group
- Tenant's Representative: Lip Fei Jiang - Chibeca Real Estate
This transaction involves key representatives with Ben Biberaj and Sam Tucker facilitating on behalf of the landlord, while Lip Fei Jiang represents the tenant. Their professional involvement highlights the collaborative effort in securing the lease agreement in the Manhattan retail market.
On the Map
$171
$171/SF
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
92766.08%
Cash-on-Cash
-26512.83%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93