Hubb NYC Leases Retail Space To Press Builders In Carnegie Hill
1323 Madison Avenue, New York City, New York 10128, United States
Building Size
1,300 SF
Asset Type
Retail
Closing
Jan 31, 2022
About this deal
AI
Located in the Carnegie Hill neighborhood, a retail space at 1323 Madison Avenue has been leased to Press Builders. The property, measuring 1,300 square feet, was leased by Hubb NYC. The deal was facilitated by Claude Kolb of KSR. The asking rent for the space was set at $110 per square foot.
Summary of transaction details
- Property Type: Retail
- Date: 02/01/2022
- Address: 1323 Madison Ave.
- Market: Carnegie Hill
- Landlord: Hubb NYC
- Tenant: Press Builders
- Broker: Claude Kolb - KSR
- Asking Rent: $110/ft.
- Square Footage: 1,300
Claude Kolb of KSR played a crucial role as the broker in this lease transaction. Both the landlord, Hubb NYC, and the tenant, Press Builders, were represented by Claude Kolb, ensuring a smooth negotiation process. This lease deal marks an important milestone for both the parties involved.
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