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263 West 38th Street, Manha...

Exclusive Fabrics Leases Retail Space In Garment District At 263 West 38th Street With Landlord Handler Real Estate Organization
LEASEDRetail

Exclusive Fabrics Leases Retail Space In Garment District At 263 West 38th Street With Landlord Handler Real Estate Organization

263 West 38th Street, Manhattan, New York, NY, USA

Building Size

4,700 SF

Asset Type

Retail

Closing

Apr 14, 2021

AI

A lease transaction was recently completed in the Garment District of New York. The property involved is located at 263 West 38th Street and is classified as a retail asset. The tenant in this transaction is Exclusive Fabrics, while the landlord is Handler Real Estate Organization.

Summary of transaction details

  • Property Type: Retail
  • Address: 263 West 38th Street
  • Market: Garment District
  • Tenant: Exclusive Fabrics
  • Landlord: Handler Real Estate Organization

The tenant was represented by Aziz Mahrach and Anand Melwani from ARM Real Estate NYC, while the landlord was represented by Darell Handler and Alex Bush. The lease agreement was finalized on 04/15/2021. The total square footage of the retail space is 4,700 square feet, and the asking rent for the property was $77 per square foot.

For more information about this lease transaction, you can contact Aziz Mahrach at (201) 924-5937 or via email at [email protected]. Additional details can also be found on their website at www.armre.com.

Players

Darell Handler

Handler Real Estate Services

Broker

$28M

vol

12 deals

Broker
Handler Real Estate Organization
Handler Real Estate OrganizationBrokerage
Handler Real Estate Organization
Handler Real Estate OrganizationLandlord

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