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
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