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837 2nd Ave New York, NY 10...

AYA Hotels Leases Hotel Space At 837 Second Avenue In Turtle Bay With Landlord Steven Kashanian
LEASEDHotel

AYA Hotels Leases Hotel Space At 837 Second Avenue In Turtle Bay With Landlord Steven Kashanian

837 2nd Ave New York, NY 10017, USA

$60

$60/SF

Building Size

13,125 SF

Asset Type

Hotel

Closing

Jun 1, 2023

AI

Turtle Bay's hotel market has seen a new lease transaction with AYA Hotels leasing the property at 837 Second Avenue. The landlord, Steven Kashanian, has agreed to the deal. The lease was facilitated by brokers Jeff Geoghegan and Ariel Baradarian from KSR. The property offers a total square footage of 13,125, with an asking rent of $60 per square foot.

Summary of transaction details

  • Property Type: Hotel
  • Transaction Amount: Lease
  • Address: 837 Second Avenue
  • Market: Turtle Bay
  • Landlord: Steven Kashanian
  • Tenant: AYA Hotels
  • Brokers: Jeff Geoghegan & Ariel Baradarian - KSR
  • Asking Rent: $60/ft.
  • Square Footage: 13,125

Players

Jeff Geoghegan

Kassin Sabbagh Realty

Broker

27 deals

Broker
Steven Kachanian

Steven Kachanian

Klosed Properties

Landlord

$91.9M

vol

37 deals

Landlord

New York Hotel Market Snapshot

Boundary boundary · Hotel · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

264383.33%

Cash-on-Cash

-75561.57%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93