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44 E 21st St, New York, NY,...

Hand Hospitality Leases Retail Space In New York For Portfolio3
LEASEDRetail

Hand Hospitality Leases Retail Space In New York For Portfolio3

44 E 21st St, New York, NY, 10010

Building Size

3,500 SF

Asset Type

Retail

Closing

Sep 2, 2021

AI

The retail property located at 44 E 21st St, New York, NY, 10010, comprising 3,500 square feet, was leased on September 2, 2021. The tenant, Hand Hospitality, secured this space in New York's market. The deal was brokered with Myung (Michael) Hong from Realtmart Realty representing the tenant, and the landlord, Portfolio3, was represented by Nicholas "Nick" Judson and Wendy Mcdonald from Judson CRE.

Summary of transation details:

  • Property Type: Retail
  • Transaction Amount: Not Applicable
  • Tenant: Hand Hospitality
  • Tenant's Representative: Myung (Michael) Hong (Realmart Realty)
  • Landlord: Portfolio3
  • Landlord's Representatives: Nicholas "Nick" Judson (Judson CRE), Wendy Mcdonald (Judson CRE)
  • Square Feet: 3500

The lease transaction at 44 E 21st St involved a partnership between Hand Hospitality as the tenant, and Portfolio3 as the landlord. The tenant was represented by Myung (Michael) Hong of Realtmart Realty, while the landlord was represented by Nicholas "Nick" Judson and Wendy Mcdonald from Judson CRE. This lease agreement brought together key individuals and companies in the New York retail market, facilitating a successful commercial occupancy deal.

Players

Nicholas Judson

Judson CRE

Broker

$43.9M

vol

13 deals

Broker
HH
Hand HospitalityTenant

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93