International Burgers Signs Modified Gross Lease At 311 East 45th Street In Manhattan
311 East 45th Street
$100
$100/SF
Building Size
1,600 SF
Asset Type
Retail
Closing
Jan 19, 2024
AI
The retail property located at 311 East 45th Street in Manhattan was leased in a Modified Gross Lease agreement. The property spans 1,600 square feet with an asking rent of $100 per square foot. The landlord, TF Cornerstone, secured International Burgers as the tenant for this commercial space.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Landlord: TF Cornerstone
- Tenant: International Burgers
- Landlord's Rep: Daniyel Cohen & Thomas Galo - Winick Realty Group
- Tenant's Rep: Joshua Sarraf - Avenue Realty Advisors
In this lease deal, the tenant, International Burgers, was represented by Joshua Sarraf from Avenue Realty Advisors. On the other side, TF Cornerstone was represented by Daniyel Cohen and Thomas Galo of Winick Realty Group. Additionally, there was a note provided by the tenant's representative stating that in this particular lease, the tenant was represented by ARA and the owner was represented by Thomas Galo & Daniyel Cohen of Tower Brokerage.
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
158630.00%
Cash-on-Cash
-45336.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93