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1015 6th Avenue

MDM Grooming Leases 750 SF Retail Space At 1015 Sixth Avenue In Midtown Manhattan
LEASEDRetail

MDM Grooming Leases 750 SF Retail Space At 1015 Sixth Avenue In Midtown Manhattan

1015 6th Avenue

$104

$104/SF

Building Size

750 SF

Asset Type

Retail

Closing

Dec 14, 2023

AI

The retail space located at 1015 Sixth Avenue (2nd Floor) in Midtown South, Manhattan has been leased. The property, spanning 750 square feet, was leased by MDM Grooming. The landlord, Paul Lyons of Helm Management, facilitated the deal. The lease was brokered by James Famularo and Bobby Ortense of Meridian Capital Group. The asking rent for the space was $104 per square foot.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Not Applicable
  • Address: 1015 Sixth Avenue (2nd Floor)
  • Market: Midtown South, Manhattan
  • Tenant: MDM Grooming
  • Landlord: Paul Lyons - Helm Management
  • Brokers: James Famularo & Bobby Ortense - Meridian Capital Group
  • Asking Rent: $104/ft
  • Square Footage: 750

James Famularo and Bobby Ortense from Meridian Capital Group played a significant role in representing the tenant, MDM Grooming, during the lease negotiation process. Their expertise and efforts ensured a successful deal for all parties involved.

Players

James Famularo

Meridian Capital Group

Broker

$11.4M

vol

362 deals

Broker

Paul Lyons

Helm Management

Landlord

4 deals

Landlord

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

152528.85%

Cash-on-Cash

-43593.21%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93