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381 Park Avenue South

Eton Expands Showroom At 381 Park Ave S In Midtown South
LEASEDRetail

Eton Expands Showroom At 381 Park Ave S In Midtown South

381 Park Avenue South

$62

$62/SF

Building Size

5,000 SF

Asset Type

Retail

Closing

Mar 20, 2024

AI

The retail property at 381 Park Avenue South in Midtown South, known for its classic architectural charm, has been leased for 10 years and nine months. The upscale menswear brand Eton secured a 5,000-square-foot space in the building owned by Kate Hemmerdinger Goodman of ATCO Properties & Management. The asking rent for the deal was $62 per square foot.

Summary of transation details:

Eton, represented by Anthony Manginelli from CBRE, successfully expanded its showroom space in Midtown South by securing a deal at 381 Park Avenue South. On the other side, the landlord, Kate Hemmerdinger Goodman, was represented by Joseph Mangiacotti, Kyle Berlinsky, and Robert Tunis from Colliers International. The deal highlights the growth and strategic decisions in the retail segment within Midtown South.

Players

Robert Tunis

Colliers

Broker

3 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

255854.84%

Cash-on-Cash

-73124.10%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93