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:
- Property Type: Retail
- Transaction Amount: Not Applicable
- Address: 381 Park Avenue South
- Market: Midtown South
- Tenant: Eton
- Landlord: Kate Hemmerdinger Goodman - ATCO Properties & Management
- Landlord's Rep: Joseph Mangiacotti, Kyle Berlinsky & Robert Tunis - Colliers International
- Tenant's Rep: Anthony Manginelli - CBRE
- Asking Rent: $62 per square foot
- Lease Term: 10 years & nine months
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
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