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377 5th Avenue

KMR Management Leases Retail Space At 377 5th Avenue In Midtown South, Manhattan
LEASEDRetail

KMR Management Leases Retail Space At 377 5th Avenue In Midtown South, Manhattan

377 5th Avenue

$36

$36/SF

Building Size

2,500 SF

Asset Type

Retail

Closing

Nov 30, 2023

AI

The retail property located at 377 5th Avenue in Midtown South, Manhattan has been leased by Hebe Intl Skincare Center. The landlord, KMR Management, agreed to a 10-year lease with an asking rent of $36 per square foot for a total of 2,500 square feet.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: N/A
  • Address: 377 5th Avenue
  • Market: Midtown South, Manhattan
  • Landlord: KMR Management
  • Tenant: Hebe Intl Skincare Center

Representing the landlord, KMR Management, in this lease transaction is Michael Segerman of Current Real Estate Advisors. On the other hand, Jessilyn Chen and Olivia Biancardi from Arktic Real Estate served as the tenant's representatives.

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

440638.89%

Cash-on-Cash

-125935.95%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93