MakeInspires Signs 10-Year Retail Lease At 1642 York Avenue On Upper East Side
1642 York Avenue New York, New York 10028, USA
Building Size
3,000 SF
Asset Type
Retail
Closing
Jul 19, 2023
AI
A 10-year, 3,000 square foot ground-floor retail lease has been signed at 1642 York Avenue in Manhattan's Upper East Side. The space was leased to MakeInspires, an organization that produces STEAM educational programs.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not mentioned
- Address: 1642 York Avenue
- Market: Upper East Side
- Square Footage: 3,000
Lee & Associates NYC represented the landlord, Brad Schwarz and Olivia Hwang, in this lease deal. MakeInspires was represented by Joshua Berkun and Eli Yadid of Kassin Sabbagh Realty.
Note: Lee & Associates NYC facilitated the 10-year lease agreement on behalf of the landlord, securing a ground-floor retail space for MakeInspires at 1642 York Avenue in Manhattan's Upper East Side.
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