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1456 1st Avenue, New York, ...

Manhattan Schoolhouse Leases 3568 Square Feet At 1456 1st Avenue New York
LEASEDMultiFamily

Manhattan Schoolhouse Leases 3568 Square Feet At 1456 1st Avenue New York

1456 1st Avenue, New York, NY, 10021

Building Size

3,568 SF

Asset Type

MultiFamily

Closing

Nov 20, 2023

AI

The property asset involved in this transaction is located at 1456 1st Avenue, New York, NY, 10021. The transaction is situated in the New York market, comprising a total square footage of 3,568 square feet. The landlord for this lease is RFR Realty.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Address: 1456 1st Avenue, New York, NY, 10021
  • Market: New York
  • Landlord's Representative: Jordan S. Claffey - RFR Retail, Fritz Kemerling - Atlantic Retail
  • Tenant: Manhattan Schoolhouse
  • Landlord: RFR Realty
  • Square Feet: 3,568

The deal includes representatives from RFR Retail and Atlantic Retail, indicating a collaboration between multiple brokerage agencies for the landlord, RFR Realty. The tenant secured the property for educational purposes, marking a strategic move within the New York market.

Players

Fritz Kemerling

Atlantic Retail

Broker

7 deals

Broker
MS
Manhattan SchoolhouseTenant

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · 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