All Seasons Spa Signs Retail Lease At 475 Ninth Avenue From Equity Residential For $100/ft
475 Ninth Avenue
$100
$100/SF
Building Size
1,800 SF
Asset Type
Retail
Closing
Jan 1, 2025
AI
The property asset involved in this transaction is located at 475 Ninth Avenue in Midtown West. It is designated as a retail space with a square footage of 1,800. The asking rent for this property is $100 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $180,000
- Tenant: All Seasons Spa
- Landlord: Equity Residential
- Tenant's Representatives: Abe Smouha & Steve Costello - RJBRE
- Landlord's Representatives: Sam Martorella & Andrew Mandell - Ripco
- Lease Type: Retail Lease
The transaction involved key representatives from both parties, with Abe Smouha and Steve Costello representing the tenant in this lease agreement. On the other side, Sam Martorella and Andrew Mandell acted as representatives for the landlord, Equity Residential, facilitating the lease of the retail 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
158630.00%
Cash-on-Cash
-45336.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93