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
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