Tri Coffee Corp Leases Mixed-Use Space At 385 5th Ave. In Midtown Manhattan With Brokers David Green, Ike Bibi & David Sabbagh - KSR
385 5th Avenue, New York City, New York 10065, United States
Building Size
1,100 SF
Asset Type
Mixed-use
Closing
Dec 31, 2021
About this deal
AI
The mixed-use property located at 385 5th Ave in Midtown has recently been leased. The transaction took place on 01/01/2022.
Summary of transaction details:
- Property Type: Mixed-use
- Address: 385 5th Ave
- Market: Midtown
- Landlord: Hilson Management - Jeremy Schwalbe
- Tenant: Tri Coffee Corp.
- Brokers: David Green, Ike Bibi & David Sabbagh - KSR
- Asking Rent: $210/ft.
- Square Footage: 1,100
The lease deal was facilitated by brokers David Green, Ike Bibi, and David Sabbagh from KSR. They represented both the landlord, Hilson Management, and the tenant, Tri Coffee Corp.
On the Map
Mixed-use
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Players
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