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145 East 57th Street New Yo...

Carl Hansen & Son Leases 9,063 SF Retail Space At 145 East 57th Street In Manhattan
LEASEDRetail

Carl Hansen & Son Leases 9,063 SF Retail Space At 145 East 57th Street In Manhattan

145 East 57th Street New York, New York 10022, USA

Building Size

9,063 SF

Asset Type

Retail

Closing

Aug 30, 2023

AI

Carl Hansen & Son, a renowned furniture company, has secured a lease for a flagship store at 145 East 57th Street in the Upper East Side of Manhattan. The retail space spans an impressive 9,063 square feet, providing ample room for showcasing the company's exquisite furniture offerings. This lease agreement was facilitated by brokers from Atlantic Retail NYC and ABS Partners Real Estate, ensuring a seamless transaction for all parties involved.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Address: 145 East 57th Street
  • Market: Upper East Side, Manhattan
  • Square Footage: 9,063

The landlords of the property, BiC 57th Street LLC and 145 East 57th Street Associates LLC, have played a pivotal role in this deal. On the landlord's side, the transaction was overseen by John Brod and Ben Waller from ABS Partners Real Estate, demonstrating their expertise in commercial real estate in the area. Acting as the tenant's representatives, Amanda Keller and Evan Clements from Atlantic Retail NYC worked diligently to secure the lease on behalf of Carl Hansen & Son.

This new flagship store at 145 East 57th Street marks a significant milestone for Carl Hansen & Son, expanding their retail presence and further establishing their brand in the competitive Manhattan market. With the expertise and guidance of their brokers, the company can look forward to creating a unique and captivating shopping experience for their customers.

Players

Ben Waller

ABS Partners Real Estate

Broker

13 deals

Broker

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