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
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