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429 3rd Avenue

H&H Bagels Signs Lease For Retail Space At 429 Third Avenue In Kips Bay, Manhattan
LEASEDRetail

H&H Bagels Signs Lease For Retail Space At 429 Third Avenue In Kips Bay, Manhattan

429 3rd Avenue

$150

$150/SF

Building Size

1,500 SF

Asset Type

Retail

Closing

Aug 11, 2023

AI

The retail property located at 429 Third Avenue in Kips Bay, Manhattan was recently leased. The property, measuring 1,500 square feet, was leased by H&H Bagels from the landlord, Abro Management. The lease was facilitated by brokers Evan Schuckman and JP Pirraglia from Ripco. The lease type for this transaction is a Modified Gross Lease, with an asking rent of $150 per square foot.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: N/A
  • Address: 429 Third Avenue, Kips Bay, Manhattan
  • Market: Kips Bay, Manhattan
  • Landlord: Abro Management
  • Tenant: H&H Bagels
  • Brokers: Evan Schuckman & JP Pirraglia, Ripco
  • Asking Rent: $150 per square foot
  • Lease Type: Modified Gross Lease

Evan Schuckman and JP Pirraglia, both from Ripco, played a key role in facilitating the lease agreement between H&H Bagels and Abro Management for the retail property at 429 Third Avenue. The lease terms were negotiated to suit both parties involved, with the modified gross lease providing a suitable agreement for the transaction.

Players

Evan Schuckman

Ripco

Broker

$8.1M

vol

9 deals

Broker
AM
Abro ManagementLandlord

Market 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

105753.33%

Cash-on-Cash

-30224.63%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93