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86 Chambers Street, Manhatt...

Philly Pretzel Factory Leases Condo Spaces In Manhattan From Aion Partners & Renatus Group
LEASED

Philly Pretzel Factory Leases Condo Spaces In Manhattan From Aion Partners & Renatus Group

86 Chambers Street, Manhattan, New York, NY, USA

Building Size

3,570 SF

Asset Type

Closing

Aug 2, 2018

AI

A lease transaction took place in Manhattan involving a condo property located at 86 Chambers and 4-14 West 125th. The deal was finalized on August 3, 2018.

Summary of transaction details:

  • Property Type: Condo
  • Tenant: Philly Pretzel Factory
  • Landlord: Aion Partners (86 Chambers) and The Renatus Group (4-14 West 125th)
  • Asking Rent: $300 per square foot (86 Chambers) and $150 per square foot (4-14 West 125th)
  • Square Footage: 300 (86 Chambers) and 3,270 (4-14 West 125th)
  • Term: 10 years

Ravi Idnani and Andrew Stern of RKF represented Aion Partners in the lease deal for 86 Chambers. On the other hand, Renatus Group was represented by Dan Myers of Chambers & Kassin Sabbagh Realty for the property at 4-14 West 125th.

It's worth noting that no further information is available regarding the transaction.

Players

Andrew Stern

Newmark

Broker

$5.4M

vol

76 deals

Broker
AP
Aion PartnersLandlord

New York 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