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450 Park Avenue South

The Moinian Group Leases Retail Space To Proper 21 At 450 Park Ave S. In Midtown
LEASEDRetail

The Moinian Group Leases Retail Space To Proper 21 At 450 Park Ave S. In Midtown

450 Park Avenue South

$120

$120/SF

Building Size

4,250 SF

Asset Type

Retail

Closing

Jul 20, 2022

AI

The retail property located at 450 Park Ave S. in Midtown has been leased. The landlord, The Moinian Group, successfully secured a tenant, Proper 21, for the space. The leasing transaction was facilitated by Albert Halawani, David Green, Jack Mordekai, and Jack Hanon of Kassin Sabbagh Realty. The asking rent for the 4,250 square-foot space was $120 per square foot.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: Not mentioned
  • Address: 450 Park Ave S.
  • Market: Midtown

The lease deal for the retail property at 450 Park Ave S. was successfully executed thanks to the efforts of Albert Halawani, David Green, Jack Mordekai, and Jack Hanon from Kassin Sabbagh Realty. The Moinian Group acted as the landlord while Proper 21 became the tenant for the space.

Players

Albert Halawani

Kassin Sabbagh Realty

Broker

$445M

vol

49 deals

Broker
The Moinian Group
The Moinian GroupBrokerage
The Moinian Group
The Moinian GroupLandlord

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

132191.67%

Cash-on-Cash

-37780.78%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93