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240 W 52nd St, New York, NY...

Howl At The Moon Signs First NYC Lease At 240 W 52nd St For 12k SF
LEASEDRetail

Howl At The Moon Signs First NYC Lease At 240 W 52nd St For 12k SF

240 W 52nd St, New York, NY, 10019

Building Size

12,000 SF

Asset Type

Retail

Closing

Jun 23, 2015

AI

The property at 240 W 52nd St, New York, NY, 10019 is a retail asset with a lease signed on 06/23/2015 for 12,000 square feet. Howl at the Moon, a piano bar chain, secured its first NYC lease at this location. The tenant was represented by Richard Kave and Robert Kunikoff from Lee & Associates, while Victor Menkin from Menkin Realty Services acted as the landlord's representative.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: N/A
  • Tenant: Howl at the Moon
  • Market: New York
  • Tenant's Rep: Richard Kave(Lee & Associates), Robert Kunikoff(Lee & Associates)
  • Landlord's Rep: Victor Menkin(Menkin Realty Service)

Lee & Associates’ Richard Kave and Robert Kunikoff, along with Victor Menkin from Menkin Realty Services, were the key individuals involved in finalizing the lease deal at 240 W 52nd St. Howl at the Moon, known for its piano bar locations across the country, made a strategic move by establishing a presence in New York City through this lease agreement.

Players

Richard Kave

Lee & Associates

Broker

2 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93