Peter Hungerford Of PH Realty Capital Leases Retail Space To UP E SPA In Hell's Kitchen
408 West 56th Street
$91
$91/SF
Building Size
790 SF
Asset Type
Retail
Closing
Oct 21, 2024
About this deal
AI
The asset involved in this transaction is a retail property located at 408 West 56th Street in the Hell's Kitchen market. The property has a square footage of 790 SF and is leased under a Modified Gross Lease agreement. The asking rent for this space was $91 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $91/ft
- Square Footage: 790 SF
- Address: 408 West 56th Street
- Market: Hell's Kitchen
- Landlord: Peter Hungerford - PH Realty Capital
- Tenant: UP E SPA
- Landlord's Representative: Joseph Khojahiny - Meridian Capital Group
- Tenant's Representative: Karen Spielberger
The transaction involved key individuals and companies, including Peter Hungerford as the landlord representing PH Realty Capital and UP E SPA as the tenant. Joseph Khojahiny handled the landlord's representation through Meridian Capital Group, while Karen Spielberger represented the tenant in this leasing agreement.
On the Map
$91
$91/SF
Retail
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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
174318.68%
Cash-on-Cash
-49820.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93