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
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