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160 Fifth Avenue New

Garage Signs Lease For 9,023 Square Feet At 160 5th Avenue Flatiron District
LEASED

Garage Signs Lease For 9,023 Square Feet At 160 5th Avenue Flatiron District

160 Fifth Avenue New, 160 5th Avenue & 160 5th Avenue Flat

Building Size

Asset Type

Closing

May 13, 2026

AI

The property asset involved in this transaction is a retail space located at 160 5th Avenue in the Flatiron District. The asset encompasses a total of 9,023 square feet, catering to a Gen Z-focused retailer.

Summary of transaction details:

This lease signing marks Garage's expansion in New York City, being their second store in the area following the opening of their SoHo location in 2022.

Players

Michael Paster

Newmark

Broker

17 deals

Broker
G
GarageBuyer
Michael Fuchs

Michael Fuchs

RFR

Landlord

$3.6B

vol

25 deals

Landlord
Andrew Lutfy

Andrew Lutfy

Garage

Tenant

1 deal

Tenant

New CRE Market Snapshot

Boundary boundary · CRE · 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