Proper 21 Signs Lease At 450 Park Ave S. In Midtown With Landlord Moinian Group
450 Park Avenue South
$120
$120/SF
Building Size
4,250 SF
Asset Type
Retail
Closing
Jul 20, 2022
AI
The retail space located at 450 Park Ave S in Midtown has been leased. The lease transaction took place on 07/20/2022.
Summary of transaction details:
- Property Type: Retail
- Address: 450 Park Ave S
- Market: Midtown
The landlord of the property is The Moinian Group, and the tenant is Proper 21. The lease was negotiated by Albert Halawani, David Green, Jack Mordekai, and Jack Hanon from Kassin Sabbagh Realty.
The asking rent for the retail space was $120 per square foot, with a total square footage of 4,250.
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