LayLays NYC Leases 5,500 SF Retail Space At 237 Madison Avenue In Murray Hill, Manhattan
237 Madison Avenue
$105
$105/SF
Building Size
5,500 SF
Asset Type
Retail
Closing
Sep 30, 2023
About this deal
AI
A retail property located at 237 Madison Avenue in Murray Hill, Manhattan has been leased. The property, with a square footage of 5,500, was leased by a new tenant, LayLays NYC, at an asking rent of $105 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Leased
- Address: 237 Madison Avenue, Murray Hill, Manhattan
- Market: Murray Hill, Manhattan
- Tenant: LayLays NYC
- Asking Rent: $105/ft
- Lease Term: Former Asia de Cuba has been leased to a new upscale Caribbean Steakhouse
- Landlord: Living NY - Jon Bakhash
- Brokers: Ryan Schimel & Nicolas Nitu - Habendum Real Estate
Ryan Schimel and Nicolas Nitu, representatives from Habendum Real Estate, were instrumental in facilitating this long-term lease deal for the property. After years of being vacant, they were able to secure a new tenant and are excited to witness the transformation of the space into a new upscale Caribbean Steakhouse concept.
On the Map
$105
$105/SF
Retail
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Players
New York Retail Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
151076.19%
Cash-on-Cash
-43178.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93