Dim Sum Garden Leases Retail Space At 177 Madison Avenue In Midtown South, Manhattan By James Famularo & Bobby Ortense - Meridian Capital Group
177 Madison Ave New York, NY 10016, USA
$65
$65/SF
Building Size
3,455 SF
Asset Type
Retail
Closing
Sep 4, 2023
About this deal
AI
The retail property located at 177 Madison Avenue in Midtown South, Manhattan has been leased to Dim Sum Garden. The transaction was facilitated by brokers James Famularo and Bobby Ortense from Meridian Capital Group. The property spans approximately 3,455 square feet with an asking rent of $65.99 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Lease
- Address: 177 Madison Avenue
- Market: Midtown South, Manhattan
- Landlord: Esther Perlstein - First 177 Madison
- Tenant: Dim Sum Garden
- Brokers: James Famularo & Bobby Ortense - Meridian Capital Group
- Asking Rent: $65.99/ft
- Square Footage: 3,455
James Famularo and Bobby Ortense, representing Meridian Capital Group, were instrumental in facilitating the lease of the retail space at 177 Madison Avenue. The deal was made between the landlord, Esther Perlstein of First 177 Madison, and the tenant, Dim Sum Garden.
Players
Market 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
244046.15%
Cash-on-Cash
-69749.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93