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416 3rd Avenue

Apollo Bagels Leases Retail Space At 416 3rd Avenue In Murray Hill For $125/ft
LEASEDRetail

Apollo Bagels Leases Retail Space At 416 3rd Avenue In Murray Hill For $125/ft

416 3rd Avenue

$125

$125/SF

Building Size

3,000 SF

Asset Type

Retail

Closing

Jan 23, 2025

AI

The property asset involved in this transaction is located at 416 3rd Avenue in the Murray Hill market. It is a retail lease with an asking rent of $125 per square foot, encompassing a total area of 3,000 square feet.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $375,000
  • Landlord: Philip Milstein - Ogden Cap Properties
  • Tenant: Apollo Bagels
  • Landlord's Representative: Zev Sonkin - Compass
  • Tenant's Representatives: David Green & Daniel Kestenbaum - KSR
  • Lease Type: Retail Lease
  • Date of Transaction: 01/23/2025

The key individuals involved in this deal include Philip Milstein, representing Ogden Cap Properties as the landlord, and Apollo Bagels as the tenant. Zev Sonkin from Compass represented the landlord while the tenant was represented by David Green and Daniel Kestenbaum from KSR.

Players

Daniel Kestenbaum

Kassin Sabbagh Realty

Broker

23 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

126904.00%

Cash-on-Cash

-36269.55%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93