Meridian Capital Group Brokers 10-Year Retail Lease At 519 Second Avenue, New York
519 Second Avenue
$120
$120/SF
Building Size
1,900 SF
Asset Type
Retail
Closing
Feb 2, 2023
About this deal
AI
Located at 519 Second Avenue in New York, this retail property has recently been leased. The deal was facilitated by Garrett Kelly from Meridian Capital Group. The leasing term is for a period of 10 years. The property spans across 1,900 square feet and the asking rent was set at $120 per square foot.
Summary of transaction details
- Property Type: Retail
- Asking Rent: $120 per square foot
- Lease Term: 10 years
- Broker: Garrett Kelly - Meridian Capital Group
This transaction marks a successful lease agreement for the retail property at 519 Second Avenue. Garrett Kelly of Meridian Capital Group played a pivotal role in brokering the deal. The property boasts an attractive location within the bustling market of New York, making it a desirable asset for potential businesses.
Players
Tay 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
132191.67%
Cash-on-Cash
-37780.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93