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120 West 56th Street

Avo Signs Retail Lease At 120 West 56th Street In Midtown Manhattan With Landlord JP Morgan Chase
LEASEDRetail

Avo Signs Retail Lease At 120 West 56th Street In Midtown Manhattan With Landlord JP Morgan Chase

120 West 56th Street

$140

$140/SF

Building Size

1,291 SF

Asset Type

Retail

Closing

Sep 14, 2023

AI

The retail property located at 120 West 56th Street in Midtown Manhattan has been leased. The property, measuring 1,291 square feet, was leased by tenant Avo. The lease was facilitated by George Skaliarinis and Matthew Fogel from KSR, acting as the tenant's representatives. The retail lease was negotiated with an asking rent of $140 per square foot.

Summary of transaction details:

The lease negotiation involved George Skaliarinis and Matthew Fogel from KSR, representing the tenant, Avo. On the other side, Henry Rossignol and Anthony Stanford from CBRE acted as the landlord's representatives, representing JP Morgan Chase. The deal successfully concluded with an agreement on an asking rent of $140 per square foot for the 1,291 square feet retail space at 120 West 56th Street.

Players

Henry Rossignol

CBRE

Broker

10 deals

Broker
J.P. Morgan Chase
J.P. Morgan ChaseLender
J.P. Morgan Chase
J.P. Morgan ChaseLandlord

Market 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

113307.14%

Cash-on-Cash

-32383.53%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93