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475 Ninth Avenue

All Seasons Spa Signs Retail Lease At 475 Ninth Avenue From Equity Residential For $100/ft
LEASEDRetail

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:

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

Sam Martorella

Ripco

Broker

5 deals

Broker

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