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286 5th Avenue, New York Ci...

Next Dining Signs Retail Lease At 286 5th Avenue In Midtown East
LEASEDOffice

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

Ike Bibi

Kassin Sabbagh Realty

Broker

$274.3M

vol

125 deals

Broker
Signature Bank
Signature BankLender

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