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1011 3rd Avenue

Blinds To Go Leases Debut Storefront At 1011 3rd Avenue In Upper East Side
LEASEDRetail

Blinds To Go Leases Debut Storefront At 1011 3rd Avenue In Upper East Side

1011 3rd Avenue

$250

$250/SF

Building Size

11,000 SF

Asset Type

Retail

Closing

Nov 16, 2023

AI

Blinds To Go, a retailer specializing in window blinds, is set to open their first store in Manhattan. The store will be located at 1011 Third Avenue in Midtown East, occupying the former space of Dylan's Candy Bar. The lease for this nearly 11,000-square-foot retail space was secured for a 15-year term, with an asking rent of $250 per square foot.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: N/A
  • Address: 1011 Third Avenue
  • Market: Upper East Side
  • Landlord: Morton L. Olshan - Olshan Properties
  • Tenant: Blinds To Go
  • Broker: Adam Henick - Current Real Estate Advisors
  • Asking Rent: $250/ft
  • Square Footage: 11,000
  • Lease Term: 15 years

Blinds To Go's venture into Manhattan marks a significant milestone for the company, as they expand their presence into a new market. This debut storefront will provide them with a prime location in Midtown East, attracting customers who previously frequented Dylan's Candy Bar. With the support of their broker, Adam Henick from Current Real Estate Advisors, Blinds To Go has secured a favorable lease agreement at an ideal asking rent of $250 per square foot.

Players

Adam Henick

Current Real Estate Advisors

Broker

$1.6M

vol

16 deals

Broker
OP
Olshan PropertiesLandlord

New York Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

63452.00%

Cash-on-Cash

-18134.78%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93