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345 7th Avenue, New York Ci...

Boba Guys Leases Retail Space In Midtown Manhattan At 345 7th Avenue
LEASEDRetail

Boba Guys Leases Retail Space In Midtown Manhattan At 345 7th Avenue

345 7th Avenue, New York City, New York 10011, United States

Building Size

1,100 SF

Asset Type

Retail

Closing

Jun 19, 2022

AI

The retail property located at 345 7th Avenue in Midtown has been leased. The lease transaction took place on 06/20/2022.

Summary of transaction details

  • Property Type: Retail
  • Lease Date: 06/20/2022
  • Address: 345 7th Avenue
  • Market: Midtown

The landlord of the property is Empire Capital RE. The tenant in this lease is Boba Guys. Representing the tenant in the deal are Adam Weinblatt and Mai Shachi from Newmark. The landlord is represented by Ike Bibi, Carolina Aziz, and David Green from KSR.

The asking rent for the retail space is $200 per square foot. The area of the leased space is 1,100 square feet.

Players

Ike Bibi

Kassin Sabbagh Realty

Broker

$274.3M

vol

125 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