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250 W 54th St, New York, NY...

Radio Star Karaoke Leases Retail Space At 250 W 54th St In New York
LEASEDRetail

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

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.

Players

Sung G Cho

Midtown Commercial Real Estate

Broker

2 deals

Broker
Zar Property NY
Zar Property NYLandlord

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

264383.33%

Cash-on-Cash

-75561.57%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93