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47 8th Avenue, New York Cit...

Ann Tremet Cake Leases Retail Space In West Village's 47 8th Ave. From Beach Lane Management
LEASEDRetail

Ann Tremet Cake Leases Retail Space In West Village's 47 8th Ave. From Beach Lane Management

47 8th Avenue, New York City, New York 10014, United States

Building Size

1,300 SF

Asset Type

Retail

Closing

Oct 6, 2021

AI

A retail property located at 47 8th Ave in the West Village has recently been leased. The property, spanning 1,300 square feet, was leased by tenant Ann Tremet Cake. The landlord, Beach Lane Management, facilitated the lease transaction. The leasing process was managed by broker Jessilyn Chen from Compass.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: N/A
  • Address: 47 8th Ave
  • Market: West Village
  • Tenant: Ann Tremet Cake
  • Landlord: Beach Lane Management
  • Broker: Jessilyn Chen - Compass
  • Asking Rent: $92/ft
  • Square Footage: 1,300

The deal was finalized on 10/06/2021 with an asking rent of $92 per square foot. Jessilyn Chen from Compass represented the tenant, Ann Tremet Cake, in securing the lease agreement with Beach Lane Management. The transaction reflects the ongoing activity in the West Village retail market.

Players

Jessilyn Chen

Arktic Real Estate

Broker

16 deals

Broker
Compass
CompassBrokerage
C
CakeTenant

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