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2 South End Avenue

Playto Childcare Leases Retail Space At 2 South End Avenue In Battery Park City
LEASEDRetail

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:

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

Chandler Slate

Tri State Commercial Realty

Broker

$10.7M

vol

33 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

206012.99%

Cash-on-Cash

-58879.14%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93