Playto Childcare Leases Retail Space At 2 South End Avenue In Battery Park City
2 South End Avenue
$77
$77/SF
Building Size
7,000 SF
Asset Type
Retail
Closing
Jul 31, 2024
AI
The property asset involved in this transaction is a retail space located at 2 South End Avenue in Battery Park City. The space encompasses a total area of 7,000 square feet and operates under a modified gross lease. The asking rent for this property is set at $77 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $77/ft
- Square Footage: 7,000
- Address: 2 South End Avenue
- Market: Battery Park City
- Landlord: Joanna Fan
- Tenant: Playto Childcare
- Broker Representatives: Chandler Slate & Duvy Biller - Tri State Commercial Realty
This transaction highlights the key individuals and companies involved, particularly the landlord Joanna Fan and tenant Playto Childcare. The brokerage team of Chandler Slate and Duvy Biller from Tri State Commercial Realty facilitated the deal, representing both sides in the transaction.
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
206012.99%
Cash-on-Cash
-58879.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93