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
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