T-Bar Steak & Lounge Signs Lease With Solil Management At 116 E 60th St, New York
116 E 60th St, New York, NY, 10022
Building Size
4,500 SF
Asset Type
Retail
Closing
Jan 24, 2022
About this deal
AI
The property involved in this transaction is located at 116 E 60th St, New York, NY, 10022. This commercial lease encompasses a space measuring 4500 square feet, situated in the New York market.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not specified
- Address: 116 E 60th St, New York, NY, 10022
- Square Feet: 4500
- Tenant: T-Bar Steak & Lounge
- Landlord: Solil Management
- Tenant's Representative: Joshua Singer
- Landlord's Representative: Jeremy Modest - Ripco
The transaction is marked by the involvement of key representatives in the lease agreement. Joshua Singer represents the tenant, T-Bar Steak & Lounge, while Jeremy Modest from Ripco acts as the landlord's representative for Solil Management.
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