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246 5th Ave, New York, NY 1...

Bondi Sushi Leases Space In NoMad At 246 Fifth Avenue With Tenant's Rep Matthew Newman & Brandon Charnas Of Current Real Estate
LEASEDOther

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

Matthew Newman

Repop Advisors

Broker

5 deals

Broker

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