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317 9th Avenue

Ideal Marketplace Renews 14,770 Square Foot Lease At USPS-Owned Retail Property In Chelsea
LEASEDRetail

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

David Steiner

United States Postal Service (USPS)

Landlord

$6.5M

vol

2 deals

Landlord
IM
Ideal MarketplaceTenant

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