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
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