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214 West 39th Street, New Y...

PIJ Hospitality Leases Retail Space In Midtown Manhattan- 214 W. 39th Street
LEASEDRetail

PIJ Hospitality Leases Retail Space In Midtown Manhattan- 214 W. 39th Street

214 West 39th Street, New York, NY, USA

Building Size

1,600 SF

Asset Type

Retail

Closing

May 31, 2021

AI

Located at 214 W. 39th Street in Midtown, this retail property was recently leased. The lease was handled by PIJ Hospitality LLC as the tenant and Ron Gross as the landlord. The tenant's representative was Adam Lavian and Maxim Raevschi of HabendumRE, while the landlord's representatives were Catherine O'Toole, David Scher, Milana Kakuriyeva, and Stephanie Moore.

Summary of transaction details

Habendum Real Estate, specializing in commercial leasing and sales, represented both landlords and tenants in this deal. For more information, you can contact Maxim Raevschi at (347) 659-7035 and Adam Lavian at (516) 662-6176.

Players

Catherine O'Toole

Lee & Associates

Broker

$68.5M

vol

9 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93