Herald Sq. Cosmetics Leases Mixed-Use Space At 60 West 38th Street In Midtown Manhattan
60 West 38th Street, Manhattan, New York, NY, USA
Building Size
1,670 SF
Asset Type
Mixed-use
Closing
Mar 28, 2021
About this deal
AI
Located at 60 West 38th Street in Midtown, this mixed-use property recently underwent a lease transaction. The deal was completed on 03/29/2021.
Summary of transaction details:
- Property Type: Mixed use
- Address: 60 West 38th Street
- Tenant: Herald Sq. Cosmetics
- Landlord: Ramin Sarraf - Heskels Asset Management
- Brokers: Zalman Kamish, Richard Bailey, and Ramin Sarraf from Kassin Sabbagh Realty
- Asking Rent: $80/ft.
- Square Footage: 1,670 sq. ft.
The tenant, Herald Sq. Cosmetics, entered into a lease agreement for the property. The landlord, Ramin Sarraf of Heskels Asset Management, facilitated the deal. The brokers involved in the transaction were Zalman Kamish, Richard Bailey, and Ramin Sarraf from Kassin Sabbagh Realty.
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