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Broadway, Midtown South, Ne...

Food City Leases Retail Space At 1691 Broadway In Midtown Manhattan From Sky Organization
LEASEDRetail

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

Ariel Baradarian

Oxford Property Group

Broker

7 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