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60 West 38th Street, Manhat...

Herald Sq. Cosmetics Leases Mixed-Use Space At 60 West 38th Street In Midtown Manhattan
LEASEDMixed-use

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

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:

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.

Players

Richard Bailey

RJBRE

Broker

14 deals

Broker
Ramin Sarraf

Ramin Sarraf

Landlord

$8.6M

vol

2 deals

Landlord

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