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251 5th Avenue, Manhattan, ...

Josh Popper's Bredwinners Leases Full Floor At 251 5th Avenue In Midtown Manhattan
LEASEDMixed-use

Josh Popper's Bredwinners Leases Full Floor At 251 5th Avenue In Midtown Manhattan

251 5th Avenue, Manhattan, New York, NY, USA

Building Size

2,500 SF

Asset Type

Mixed-use

Closing

Mar 10, 2021

AI

The mixed-use property located at 251 5th Avenue in Midtown, Manhattan has been leased. The tenant, Josh Popper, will be opening Bredwinners, a premier boxing club. The lease is for the full third floor, which spans 2,500 square feet.

Summary of transaction details

  • Property Type: Mixed-use
  • Asking Rent: $60 per square foot
  • Address: 251 5th Avenue, 3rd Floor, Midtown, Manhattan
  • Tenant: Josh Popper - Bredwinners @BeABredWinner
  • Landlord: Gatsby Enterprises
  • Tenant's Representative: Synergy Realty NY
  • Landlord's Representative: Aaron Aziz & James Bullaro - Avenue Realty Advisors

Josh Popper, the founder of Bredwinners, is leading the club's foray into Manhattan. The lease transaction was facilitated by Synergy Realty NY, ensuring a smooth and professional process.

Note from @ARANYC_: Bredwinners is set to bring their love for boxing to the heart of Midtown. If you are interested in office or retail space in this building or elsewhere in Manhattan, Avenue Realty Advisors (ARA) represents many available properties. Aaron Aziz and James Bullaro from ARA can be reached for further inquiries.

For more information, visit the ARA website at www.aranyc.com. You can also reach out to Aaron Aziz and James Bullaro directly:
Aaron Aziz, Principal Broker
Phone: 516.355.8018
Email: [email protected]
James Bullaro, Managing Director
Phone: 917.270.8360
Email: [email protected]

If you are interested in joining the ARA team, contact them through their website.

Players

Aaron Aziz

ARA

Broker

47 deals

Broker
Gatsby Enterprises
Gatsby EnterprisesLandlord

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · 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