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202 9th Avenue, New York, N...

The Canuck Leases Retail Space In Chelsea At 202 Ninth Avenue With Landlord Hubb NYC Properties
LEASEDRetail

The Canuck Leases Retail Space In Chelsea At 202 Ninth Avenue With Landlord Hubb NYC Properties

202 9th Avenue, New York, NY 10011

Building Size

2,215 SF

Asset Type

Retail

Closing

Oct 9, 2021

AI

The retail property located at 202 Ninth Avenue in Chelsea has been leased. The transaction took place on October 9, 2021, with an asking rent of $140 per square foot. The space spans 2,215 square feet, providing ample room for the tenant's operations. The landlord, Hubb NYC Properties, finalized the deal with The Canuck as the tenant.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Leased
  • Address: 202 Ninth Avenue
  • Market: Chelsea
  • Asking Rent: $140/ft.
  • Square Footage: 2,215

James Famularo from Meridian Retail Leasing and Steven Soutendijk from Cushman & Wakefield represented the landlord, Hubb NYC Properties, during the negotiation and lease agreement. Their expertise and experience in the retail real estate market were pivotal in securing the deal with The Canuck.

Players

James Famularo

Meridian Capital Group

Broker

$11.4M

vol

365 deals

Broker
HUBB NYC
HUBB NYCLandlord

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