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
New York Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
Loading comparables…
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