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331 West 51st Street, New Y...

Clara Leases 3,000 SF Retail Space In Hell's Kitchen Manhattan At 331 W. 51st St
LEASEDRetail

Clara Leases 3,000 SF Retail Space In Hell's Kitchen Manhattan At 331 W. 51st St

331 West 51st Street, New York City, New York 10019, United States

Building Size

3,000 SF

Asset Type

Retail

Closing

Mar 29, 2022

AI

Eleanor Ahdoot, the landlord, has leased a retail space located at 331 W. 51st St. in Hell's Kitchen, Manhattan. The property has a total square footage of 3,000 and the asking rent was $100 per square foot.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: N/A
  • Address: 331 W. 51st St., Hell's Kitchen, Manhattan
  • Market: Hell's Kitchen, Manhattan

Clara, the tenant, has leased this space for a new location in New York City. As a beloved restaurant staple, Clara is undergoing a major expansion into the NYC marketplace. The tenant's representative, Michael Kydes from Brown Harris Stevens, negotiated the lease on behalf of Clara. Matin Hakimian and Aaron Aziz from Avenue Realty Advisors represented the landlord, Eleanor Ahdoot.

This specific space was part of Avenue Realty Advisors' exclusive portfolio of commercial spaces in NYC. For more commercial space options, you can visit Avenue Realty Advisors' website at https://www.aranyc.com/listings/. If you are interested in leasing vacant commercial space or opening a new location, reach out to their leasing specialists for advice.

For additional information, you can visit Avenue Realty Advisors' website at www.aranyc.com or follow them on Instagram at @aranyc_.

Link to Instagram post

Aaron Aziz from Avenue Realty Advisors can be contacted at 516.355.8018 or emailed at [email protected]. Matin Hakimian, the associate, can be reached at 516.712.7321 or emailed at [email protected].

If you are interested in joining the ARA team, you can reach out to them through their website at https://www.aranyc.com/contact.

Players

Aaron Aziz

ARA

Broker

47 deals

Broker

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