Xponential Fitness Leases Retail Space At 1151 Third Avenue In Lenox Hill
1151 Third Avenue, Manhattan, New York, NY, USA
Building Size
5,300 SF
Asset Type
Retail
Closing
Jul 27, 2021
About this deal
AI
The retail asset located at 1151 Third Avenue in Lenox Hill has a square footage of 5,300 and has a lease agreement in place with an asking rent of $110 per square foot. The property is situated in a prominent market area suitable for retail businesses.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $110/ft.
- Lease Term: 10-year
- Tenant: Xponential Fitness
- Landlord: Feil Organization - Nick Dries
Feil Organization, represented by Nick Dries, secured a tenant for the retail space in a deal involving a significant long-term lease with Xponential Fitness, a fitness franchise. This transaction highlights the collaboration between the landlord and the tenant in a competitive retail environment.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93