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:
- Property Type: Retail
- Lease Type: Retail Lease
- Address: 120 West 56th Street
- Market: Midtown Manhattan
- Tenant: Avo
- Landlord: JP Morgan Chase
- Tenant's Representative: George Skaliarinis & Matthew Fogel - KSR
- Landlord's Representative: Henry Rossignol & Anthony Stanford - CBRE
- Asking Rent: $140 per square foot
- Square Footage: 1,291
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
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