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450 Park Ave S, New York, N...

Merchant Cash And Capital Leases 16000 Square Feet At 450 Park Ave S New York
LEASEDCommercial

Merchant Cash And Capital Leases 16000 Square Feet At 450 Park Ave S New York

450 Park Ave S, New York, NY, 10016

Building Size

16,000 SF

Asset Type

Commercial

Closing

Aug 2, 2016

AI

A 16,000 square foot lease expansion was signed at 450 Park Ave S, New York, NY, 10016. The property is located in the New York market and is currently leased by Merchant Cash and Capital.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Square Feet: 16,000
  • Address: 450 Park Ave S, New York, NY, 10016
  • Market: New York
  • Tenant: Merchant Cash and Capital
  • Landlord: The Winick Group
  • Tenant's Representative: Ira Rovitz - Newmark Grubb Knight Frank
  • Landlord's Representative: Gregg Weisser - Moinian Group

The deal was facilitated by Ira Rovitz representing Merchant Cash and Capital, while Gregg Weisser represented The Winick Group in this transaction.

Players

Gregg Weisser

The Moinian Group

Broker

4 deals

Broker
RTL Real Estate
RTL Real EstateBrokerage
CBRE
CBREBrokerage
RTL Real Estate
RTL Real EstateLandlord

New York Commercial Market Snapshot

Boundary boundary · Commercial · 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