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
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