Matthew Kenney Signs Retail Lease At 1245 Broadway In NoMad
1245 Broadway, NoMad, New York, NY, USA
Building Size
7,900 SF
Asset Type
Retail
Closing
Feb 18, 2021
AI
The retail property located at 1245 Broadway in NoMad has been leased. The property spans 7,900 square feet and was leased for a term of 10 years. The tenant for this lease is Matthew Kenney, while the landlords are GDSNY and Klövern. The asking rent for the property was $120-150 per square foot.
Summary of transaction details
- Property Type: Retail
- Tenant: Matthew Kenney
- Landlords: GDSNY & Klövern
- Asking Rent: $120-150/ft.
- Square Footage: 7,900
- Term: 10-year
The leasing deal was facilitated by the brokers Anthony Stanford and Henry Rossignol of CBRE.
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