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:
- Property Type: Retail
- Transaction Amount: Not provided
- Address: 225 5th Avenue
- Market: NoMad
- Landlord: CIM Group
- Tenant: National Museum of Mathematics (MoMath)
- Landlord's Rep: Peter Whitenack - Newmark
- Tenant's Rep: Jake Cinti, Julia Fish, Lindsay Ornstein & Stephen Powers - OPEN Impact Real Estate
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
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