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217 West 34th Street, New Y...

Alex Adjmi's Retail Space At 217 West 34th Street Leased To Chick-fil-A At $325/ft
LEASEDRetail

Alex Adjmi's Retail Space At 217 West 34th Street Leased To Chick-fil-A At $325/ft

217 West 34th Street, New York, NY, USA

Building Size

5,400 SF

Asset Type

Retail

Closing

Aug 31, 2021

AI

The retail asset located at 217 West 34th Street in the Penn Station market encompasses a total square footage of 5,400. The asset was leased with an asking rent of $325 per foot.

Summary of transaction details:

This transaction involved key individuals, including landlord Alex Adjmi and tenant Chick Fil A, who were represented by Jeremy Ezra and Richard Gelber from Newmark. Brett Weinblatt and Ralph Hanan from Compass Commercial represented the landlord in this deal.

Players

Ralph Hanan

Compass

Broker

$11.8M

vol

10 deals

Broker
Alex Adjmi

Alex Adjmi

A & H Acquisitions

Landlord

$100.6M

vol

19 deals

Landlord

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