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
About this deal
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
On the Map
Retail
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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