Food City Leases Retail Space At 1691 Broadway In Midtown Manhattan From Sky Organization
Broadway, Midtown South, New York, NY, USA
Building Size
900 SF
Asset Type
Retail
Closing
Feb 24, 2021
AI
The retail property located at 1691 Broadway in Midtown recently underwent a lease transaction. The property, owned by Sky Organization and represented by Samuel Bar-Or, was leased to Food City. The leasing deal was facilitated by Ariel Baradarian from Kassin Sabbagh Realty. The asking rent for the 900 square feet space was $264 per square foot.
Summary of transation details
- Property Type: Retail
- Transaction Amount: Lease
- Date: 02/25/2021
- Address: 1691 Broadway
- Tenant: Food City
- Landlord: Sky Organization - Samuel Bar-Or
- Broker: Ariel Baradarian - Kassin Sabbagh Realty
- Asking Rent: $264/ft.
- SF: 900
This lease transaction involved the retail property at 1691 Broadway in Midtown. The property, owned by Sky Organization and represented by Samuel Bar-Or, was leased to Food City. Ariel Baradarian of Kassin Sabbagh Realty represented the landlord in this deal. The 900 square feet space was leased for an asking rent of $264 per square foot.
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