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:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 160 5th Avenue
- Market: Flatiron District
- Landlord: Aby Rosen & Michael Fuchs
- Tenant: Andrew Lutfy - Garage
- Landlord's Representative: Brandon Singer, Virginia Pittarelli, Manu Wendum, Suzanne Bernstock & Madison Grossman - Retail By Mona
- Tenant's Representative: Michael Paster - Newmark
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
New CRE Market Snapshot
Boundary boundary · CRE · Lease transactions
Loading comparables…
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