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225 5th Avenue

National Museum Of Mathematics (MoMath) Leases 27,158 SF Retail Space On 5th Ave
LEASEDRetail

National Museum Of Mathematics (MoMath) Leases 27,158 SF Retail Space On 5th Ave

225 5th Avenue

Building Size

27,158 SF

Asset Type

Retail

Closing

Mar 5, 2024

AI

The property at 225 5th Avenue in the NoMad market consists of a retail space spanning 27,158 square feet across the ground floor and lower level. The lease was signed by the National Museum of Mathematics (MoMath), with the temporary relocation marking their move to this new site in the Flatiron District.

Summary of transaction details:

The deal involved Peter Whitenack from Newmark representing the landlord, CIM Group, while Jake Cinti, Julia Fish, Lindsay Ornstein, and Stephen Powers from OPEN Impact Real Estate acted as the tenant's representatives in the transaction.

Players

Stephen Powers

OPEN Impact Real Estate

Broker

$55.8M

vol

14 deals

Broker

Brooklyn 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