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115 East 23rd Street

Bun Mee Signs 10-Year Retail Lease At 115 East 23rd Street With Landlord Suresh Sani
LEASEDRetail

Bun Mee Signs 10-Year Retail Lease At 115 East 23rd Street With Landlord Suresh Sani

115 East 23rd Street

$130

$130/SF

Building Size

2,200 SF

Asset Type

Retail

Closing

Apr 30, 2026

AI

The property involved in this lease transaction is situated at 115 East 23rd Street in the Gramercy Park market. It is categorized as a retail asset with a total square footage of 2,200. The asking rent for this space is set at $130 per foot. The lease term agreed upon is for 10 years and is classified as a retail lease.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $130/ft
  • Square Footage: 2,200
  • Address: 115 East 23rd Street
  • Market: Gramercy Park
  • Landlord: Suresh Sani - First Pioneer Properties
  • Tenant: Bun Mee
  • Landlord's Representative: David Dynak
  • Tenant's Representative: Josh Lebowitz - Lee & Associates
  • Lease Term: 10 Years
  • Lease Type: Retail Lease

Key individuals involved in this transaction include Suresh Sani representing the landlord, First Pioneer Properties, and Bun Mee as the tenant. David Dynak acts as the representative for the landlord, while Josh Lebowitz from Lee & Associates represents the tenant in this lease agreement.

Players

David Dynak

Broker

3 deals

Broker
FP
First Pioneer PropertiesLandlord

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

122023.08%

Cash-on-Cash

-34874.57%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93