Dim Sum Palace Leases Retail Space In Midtown West For $125/ft
240 West 40th Street, New York, NY 10018
Building Size
4,100 SF
Asset Type
Retail
Closing
Jun 11, 2020
AI
The retail property located at 240 West 40th Street in Midtown West has been leased to Dim Sum Palace. The lease transaction took place on 06/11/2021. The property spans approximately 4,100 square feet and was listed with an asking rent of $125 per square foot.
Summary of transaction details:
- Property Type: Retail
- Tenant: Dim Sum Palace
- Landlord: Sioni Group
- Brokers: Carolina Aziz, David Green & Ike Bibi from Kassin Sabbagh Realty
- Date: 06/11/2021
- Address: 240 West 40th Street
- Market: Midtown West
- Asking Rent: $125/ft.
- Square Footage: 4,100
Carolina Aziz, David Green, and Ike Bibi from Kassin Sabbagh Realty represented the tenant, Dim Sum Palace, in this lease transaction.
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