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220 5th Avenue, New York Ci...

AMBITION Signs Lease For Retail Space At 220 5th Avenue In NoMad With Landlord Stellar Management
LEASEDRetail

AMBITION Signs Lease For Retail Space At 220 5th Avenue In NoMad With Landlord Stellar Management

220 5th Avenue, New York City, New York 10118, United States

Building Size

5,874 SF

Asset Type

Retail

Closing

Sep 14, 2022

AI

Stellar Management has leased the retail space located at 220 5th Avenue in the NoMad market. The tenant, AMBITION, has secured the lease for this property. The deal was facilitated by the brokers Jay Siano and Sean Young from SABRE, along with Patrick O'Rourke and Sean Moran from Cushman & Wakefield. The asking rent for the 5,874 square feet space was $65 per square foot.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Lease
  • Date: 09/15/2022
  • Address: 220 5th Avenue
  • Market: NoMad
  • Tenant: AMBITION
  • Landlord: Stellar Management
  • Brokers:
    • Jay Siano - SABRE
    • Sean Young - SABRE
    • Patrick O'Rourke - Cushman & Wakefield
    • Sean Moran - Cushman & Wakefield
  • Asking Rent: $65/ft.
  • Square Footage: 5,874

Players

Jay Siano

Sabre Real Estate Group

Broker

1 deal

Broker
Cushman & Wakefield
Cushman & WakefieldBrokerage
Stellar Management
Stellar ManagementLender
Stellar Management
Stellar ManagementLandlord

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