Ideal Marketplace Renews 14,770 Square Foot Lease At USPS-Owned Retail Property In Chelsea
317 9th Avenue
Building Size
14,770 SF
Asset Type
Retail
Closing
Jul 8, 2026
AI
The asset involved in the transaction is a retail property located at 317 9th Avenue in Chelsea, Manhattan. The property comprises a total of 14,770 square feet and serves as a supermarket operated by Ideal Marketplace. The landlord of this property is David Steiner, representing the United States Postal Service (USPS).
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 317 9th Avenue
- Market: Chelsea, Manhattan
- Landlord: David Steiner - United States Postal Service (USPS)
- Tenant: Ideal Marketplace
- Square Footage: 14,770
Ideal Marketplace has renewed its lease at this location, ensuring its continued presence in a property managed by the USPS, known as Morgan South.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93