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238 Madison Avenue

Le Sirene Signs Double Net Lease For Retail Space At 238 Madison Avenue In Midtown South, Manhattan
LEASEDRetail

Le Sirene Signs Double Net Lease For Retail Space At 238 Madison Avenue In Midtown South, Manhattan

238 Madison Avenue

$150

$150/SF

Building Size

2,000 SF

Asset Type

Retail

Closing

Aug 1, 2023

AI

The retail property located at 238 Madison Avenue in Midtown South, Manhattan has been leased. The asset spans 2,000 square feet and is subject to a double net lease. The property was leased by Le Sirene, with Tom Liber serving as the landlord. The lease deal was facilitated by Morris Tobias and Michael Bijou of BH Realty.

Summary of transaction details

  • Property Type: Retail
  • Address: 238 Madison Avenue
  • Market: Midtown South, Manhattan
  • Tenant: Le Sirene
  • Landlord: Tom Liber
  • Brokers: Morris Tobias & Michael Bijou - BH Realty
  • Asking Rent: $150/ft
  • Square Footage: 2,000
  • Lease Type: Double Net Lease

BH Realty, represented by Morris Tobias and Michael Bijou, specializes in exclusive leasing and sales for both commercial and residential properties. They prioritize building and maintaining strong relationships with clients, while also offering guidance to owners and developers on maximizing the potential of their assets.

For complimentary market updates, comp/pricing reports, and construction/renovation consultations, owners can contact [email protected]. Brokers interested in enhancing their real estate skills and working with exclusive listings can also reach out to [email protected] to explore career opportunities within the industry.

Players

Michael Bijou

Kassin Sabbagh Realty

Broker

4 deals

Broker

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

105753.33%

Cash-on-Cash

-30224.63%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93