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
About this deal
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:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 319 Fifth Avenue
- Market: New York
- Square Feet: 9555.0
- Tenant: Five Senses hospitality and LOVE Restaurant
- Landlord: Peter Foreman (Foreman Fifth LLC)
- Brokers: Aric Trakhtenberg (Newmark), Elad Dror (PD Properties), Tony Park
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.
On the Map
Retail
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Players
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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