The Nutcracker Leases Retail Space At 432 Sixth Avenue In Greenwich Village For 12 Years
432 Sixth Avenue
$280
$280/SF
Building Size
3,800 SF
Asset Type
Retail
Closing
Apr 30, 2025
AI
The property involved in this transaction is a retail space located at 432 Sixth Avenue in the Greenwich Village market. The asking rent for this asset is $280 per square foot, covering a total area of 3,800 square feet. The lease agreement is structured as a modified gross lease with a term of 12 years.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $280/ft
- Square Footage: 3,800
- Lease Term: 12 Years
- Lease Type: Modified Gross Lease
- Landlord: Solil Management
- Tenant: The Nutcracker
- Landlord's Rep: Nicholas Forelli - Solil Management
- Tenant's Reps: Joshua Singer & Nick Marshall - The Heller Organization
This deal involves key representatives from both the landlord and tenant sides. Nicholas Forelli represents Solil Management, while Joshua Singer and Nick Marshall represent The Nutcracker through The Heller Organization.
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
56653.57%
Cash-on-Cash
-16191.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93