Bondi Sushi Leases Space In NoMad At 246 Fifth Avenue With Tenant's Rep Matthew Newman & Brandon Charnas Of Current Real Estate
246 5th Ave, New York, NY 10001, USA
Building Size
1,220 SF
Asset Type
Other
Closing
Aug 31, 2020
AI
A lease agreement was recently closed at 246 Fifth Avenue in the NoMad market. The property, spanning 1,220 square feet, was initially listed for $295 per square foot. However, the actual rent negotiated for the space was $200 per square foot. The lease term was set for 10 years.
Summary of transaction details
- Property Type: Lease
- Transaction Amount: $200/ft.
Ariel Akkad from HH Realty Equities, LLC acted as the landlord in the deal, while the tenant was Bondi Sushi. The lease transaction was facilitated by brokers Matthew Newman and Brandon Charnas from Current Real Estate.
Players
New York Other Market Snapshot
Boundary boundary · Other · 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