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1266 1st Ave, New York, NY,...

Taco Bell Leases 2650 Square Feet From Relgold LLC At 1266 1st Ave New York
LEASEDRetail

Taco Bell Leases 2650 Square Feet From Relgold LLC At 1266 1st Ave New York

1266 1st Ave, New York, NY, 10065

Building Size

2,650 SF

Asset Type

Retail

Closing

Feb 25, 2020

AI

The property located at 1266 1st Ave, New York, NY, 10065 encompasses a total square footage of 2,650. The transaction is situated within the New York market and involves Taco Bell as the tenant and Relgold LLC as the landlord.

Summary of transaction details:

The deal features prominent representatives from both sides, with Joseph DiSalvo from Marcus & Millichap representing Taco Bell as the tenant. On the landlord's side, Harrison Abramowitz and Jason Pruger from Newmark are the respective representatives for Relgold LLC, ensuring the transaction proceeds smoothly.

Players

Joseph DiSalvo

Marcus & Millichap

Broker

$43.8M

vol

11 deals

Broker
TB
Taco BellTenant

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