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40 West 37th Street

Imperial Orchid Sushi Leases Retail Space At 40 West 37th Street
LEASEDRetail

Imperial Orchid Sushi Leases Retail Space At 40 West 37th Street

40 West 37th Street

$127

$127/SF

Building Size

2,850 SF

Asset Type

Retail

Closing

May 1, 2024

AI

The retail property located at 40 West 37th Street in Midtown Manhattan was recently leased for a total of 2,850 square feet at an asking rent of $127 per square foot. The landlord, Roy Kim of Park Ridge International Inc., secured Imperial Orchid Sushi as the tenant for the retail space.

Summary of transaction details:

The deal was facilitated by Elena Ivanova, Christopher Okada, Avery Reavill, Amanda Malekhedayat, and Jeff Geoghegan, representing the landlord and tenant respectively in the retail lease transaction. The collaborative efforts of these individuals played a vital role in finalizing the lease agreement for this prime retail space in Midtown Manhattan.

Players

Christopher Okada

Okada & Company

Broker

$352.8M

vol

85 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

124905.51%

Cash-on-Cash

-35698.38%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93