Radio Star Karaoke Leases Retail Space At 250 W 54th St In New York
250 W 54th St, New York, NY, 10019
$60
$60/SF
Building Size
11,800 SF
Asset Type
Retail
Closing
Jun 5, 2018
About this deal
AI
The retail property located at 250 W 54th St, New York, NY, 10019, boasts 11,800 square feet of space and commanded a rental rate of $60 per square foot. The lease transaction was finalized on June 5, 2018, in the vibrant market of New York. The tenant, Radio Star Karaoke, secured the space for their business operations with Sung G Cho from Midtown Commercial Real Estate representing them in the deal. The landlord, Zar Property NY, facilitated the lease agreement.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not Applicable
- Tenant: Radio Star Karaoke
- Tenant's Rep: Sung G Cho (Midtown Commercial Real Estate)
- Landlord: Zar Property NY
- Address: 250 W 54th St, New York, NY, 10019
- Market: New York
- Rent/SF: $60
- Square Feet: 11,800
Sung G Cho of Midtown Commercial Real Estate played a crucial role as the tenant's representative in the lease agreement. The involvement of Zar Property NY, as the landlord, ensured the successful conclusion of the transaction, benefitting both parties involved in the retail lease of the sizable space in the heart of New York.
On the Map
$60
$60/SF
Retail
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
264383.33%
Cash-on-Cash
-75561.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93