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
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