Next Dining Signs Retail Lease At 286 5th Avenue In Midtown East
286 5th Avenue, New York City, New York 10118, United States
Building Size
44,380 SF
Asset Type
Office
Closing
Feb 9, 2022
AI
The retail property located at 286 5th Avenue in Midtown East has been leased. The lease was facilitated by Next Dining, who will be the new tenant. The lease agreement was negotiated by their representative, Andy Kim from Nest Seekers. The landlord of the property is AB & Sons Group, owned by Abraham Chetrit. The landlord's representatives in the deal were Carolina Aziz and Ike Bibi from KSR.
Summary of transation details
- Property Type: Retail
- Transaction Amount: N/A
- Asking Rent: $125/ft.
- Square Footage: 3,600 SF
- Address: 286 5th Avenue
- Market: Midtown East
Carolina Aziz and Ike Bibi from KSR represented the landlord, AB & Sons Group, while Andy Kim from Nest Seekers represented the tenant, Next Dining. The lease agreement for the retail property has been finalized.
Players
New York Office Market Snapshot
Boundary boundary · Office · 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