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116 E 60th St, New York, NY...

T-Bar Steak & Lounge Signs Lease With Solil Management At 116 E 60th St, New York
LEASEDRetail

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

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

Joshua Singer

Broker

3 deals

Broker
The Heller Organization
The Heller OrganizationBrokerage
Solil Management
Solil ManagementLandlord

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