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347 3rd Avenue

Fore Feathers Chicken Leases Retail Space At 347 3rd Avenue In Kips Bay, Manhattan
LEASEDRetail

Fore Feathers Chicken Leases Retail Space At 347 3rd Avenue In Kips Bay, Manhattan

347 3rd Avenue

$160

$160/SF

Building Size

750 SF

Asset Type

Retail

Closing

Feb 9, 2024

AI

The retail property at 347 3rd Avenue in Kips Bay, Manhattan has recently been leased. The 10-year lease was signed between Empire Management, the landlord, and Fore Feathers Chicken, the tenant. The lease type is a Single Net Lease, with an asking rent of $160 per square foot. The space measures 750 square feet, and the transaction was facilitated by the broker Michael Segerman from Current Real Estate Advisors.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: N/A
  • Date: 02/09/2024
  • Address: 347 3rd Avenue, Kips Bay, Manhattan
  • Market: Kips Bay, Manhattan
  • Landlord: Empire Management
  • Tenant: Fore Feathers Chicken
  • Broker: Michael Segerman - Current Real Estate Advisors
  • Asking Rent: $160/ft
  • Lease Type: Single Net Lease
  • Lease Term: 10 Year

Please note that no additional information was provided in the context.

Players

Michael Segerman

Current Real Estate Advisors

Broker

$8.6M

vol

27 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

99143.75%

Cash-on-Cash

-28335.59%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93