5 West 14th Street
This is a 10-year Modified Gross retail lease at $150/SF for 2,030 SF in the Union Square submarket, a high-demand corridor with strong pedestrian traffic and proximity to the 14th Street transit hub. The asking rent of $150/SF is at or slightly above current market for this block, suggesting healthy landlord leverage and a committed tenant willing to pay a premium. The tenant, Harumi Market, lacks a publicly established multi-location track record, which introduces moderate credit risk for a 10-year commitment, though the lease term signals operator confidence. The landlord, a co-op board, is a stable if conservative counterparty with no red flags identified. Broker representation on both sides is credible, with IPRG being a well-regarded NYC retail leasing firm with significant volume, lending confidence to deal execution quality.
Deal Stats
Parties
Seller / Landlord
The Parker Gramercy Co-op Board is a residential co-op entity managing ground-floor retail space at 5 West 14th Street in the Union Square area; co-op boards acting as retail landlords are common in NYC and typically maintain conservative, long-term leasing strategies with stable governance.
Buyer / Tenant
Harumi Market appears to be a specialty food or grocery market operator, likely of Japanese or Asian-influenced concept, entering a high-foot-traffic retail corridor near Union Square. Limited public transaction history suggests this may be an emerging or single-location operator, introducing some tenancy credit risk.
Score Analysis
How to improve
The following actions could meaningfully improve this deal's Homage score. Each suggestion is based on the deal's profile, asset type, and current rating — addressing them before approaching a lender can increase approval likelihood and lower borrowing costs.
Resolve outstanding violations or liens
Active violations significantly depress the score; clearing them has high impact.
Provide sponsor financial statements
Documented liquidity and net worth reduce lender risk perception.
Submit a detailed business plan
A clear repositioning or hold strategy demonstrates deal viability.
Identify institutional co-lenders or equity partners
Reputable co-investors signal deal quality to underwriters.
Raw Deal Textclick to expand
traded + Submit RE Home Deals New York Retail Lease 5 West 14th Street Share LEASED Harumi Market Leases Retail Space At 5 West 14th Street For 10 Years At $150/ft $150 $150/SF BUILDING SIZE 2,030 SF ASSET TYPE CLOSING Jun 15, 2026 Overview Players Market Deal Summary Caption AI This retail lease transaction involves an asset located at 5 West 14th Street in the Union Square market. The property has a total square footage of 2,030 and is leased for a term of 10 years under a Modified Gross Lease, with an asking rent of $150 per square foot. Summary of transaction details: Property Type: Retail Transaction Amount: $150/ft Lease Term: 10 years Lease Type: Modified Gross Lease Landlord: The Parker Gramercy Co-op Board Landlord's Representative: Ben Biberaj - IPRG Retail Leasing & Desi Avidane - Investment Property Realty Group Tenant: Harumi Market Tenant's Representative: Shiyun Shang & Sunanne Zhu - Alignment Realty In this deal, the landlord was represented by Ben Biberaj and Desi Avidane, while the tenant was represented by Shiyun Shang and Sunanne Zhu. The collaboration between these representatives facilitated the terms of the lease agreement for the retail space. PLAYERS All Brokers Ben Biberaj IPRG Retail Leasing BROKER $26.2M VOL 194 deals Contact Desi Avidane Investment Property Realty Group (IPRG) 24 deals Sunanne Zhu Alignment Realty $7.8M 8 deals Shiyun Shang $2.6M 6 deals New York Retail Market Snapshot Boundary boundary · Retail · Lease transactions Comps Listings Map Investors Top Brokers Lenders Loading comparables… Live We are telling CRE's story Traded is the #1 source for cutting-edge CRE transactions & insights. 1M+ DEALS 100K+ USERS 47 MARKETS 1.2M+ FOLLOWERS Browse Closings by State National Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming Search News Agents Agencies About About Us FAQ Testimonials Help Help Center Pricing Return Policy Follow a feed NY @tradedny MIA @tradedmiami LA @tradedla CHI @tradedchicago BOS @tradedboston DAL @tradeddallas NJ @tradednj 18.2K The Traded Weekly Every major deal & ranking update — Friday mornings. Email © 2026 Traded Media LLC · All rights reserved. Terms & Conditions Privacy Disclaimer Cookie Policy Do Not Sell My Info Acceptable Use