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319 Fifth Avenue

Five Senses Hospitality And LOVE Restaurant Lease Retail Space At 319 Fifth Avenue New York
LEASEDRetail

Five Senses Hospitality And LOVE Restaurant Lease Retail Space At 319 Fifth Avenue New York

319 Fifth Avenue

Building Size

9,555 SF

Asset Type

Retail

Closing

Dec 31, 2019

AI

The property involved in this transaction is a retail space located at 319 Fifth Avenue in New York. The total square footage of the asset is 9,555 square feet. The lease agreement was finalized on December 31, 2019.

Summary of transaction details:

The transaction involved several key individuals and companies, including the tenant, Five Senses hospitality and LOVE Restaurant, which secured the lease for the retail space. The landlord, Peter Foreman of Foreman Fifth LLC, was also instrumental in this deal, alongside brokers Aric Trakhtenberg from Newmark, Elad Dror from PD Properties, and Tony Park.

Players

Aric Trakhtenberg

Newmark

Broker

$8.3M

vol

51 deals

Broker

Peter Foreman

Foreman Fifth LLC

Landlord
Landlord
Fh
Five Senses hospitalityTenant

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