Jazz Genius Leases 2,500 SF Lower Level On Upper West Side For Modern Jazz Club
105 West 72nd Street, New York City, New York 10023, United States
Building Size
2,500 SF
Asset Type
Retail
Closing
Apr 13, 2022
About this deal
AI
An Upper West Side Lower Level retail space located at 105 W. 72nd St. has been leased in a closed transaction. The property, consisting of 2,500 square feet, was leased by Jazz Genius for their upcoming modern new jazz club. The tenant, Jazz Genius, will create a space that fosters musical improvisation and showcases the genius of talented musicians.
Summary of transaction details
- Property Type: Retail
- Transaction Date: 04/14/2022
- Market: Upper West Side, Manhattan
- Landlord: Gatsby Ent.
- Tenant: Jazz Genius
- Broker: Aaron Aziz - Avenue Realty Advisors
- Asking Rent: $80/ft.
A notable aspect of this lease is that Aaron Aziz, from Avenue Realty Advisors, represented both the owner, Gatsby Ent., and the tenant, Jazz Genius. Avenue Realty Advisors has an extensive list of unique tenants from various trades and styles. Whether you are an owner with vacant commercial space or a tenant looking to open a new or additional commercial space, Avenue Realty Advisors offers specialized leasing services to meet your needs.
If you are interested in joining Avenue Realty Advisors or would like more information, you can reach out to Aaron Aziz, the Principal Broker, at 516.355.8018 or [email protected].
For more updates and information, you can visit Avenue Realty Advisors' website at www.aranyc.com and follow them on Instagram at @aranyc_.
Players
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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