facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Retail

/

Lease

/

477 Madison Avenue, New Yor...

FedEx Office Leases Retail Space At 477 Madison Avenue In Midtown Manhattan
LEASEDRetail

FedEx Office Leases Retail Space At 477 Madison Avenue In Midtown Manhattan

477 Madison Avenue, New York City, New York 10016, United States

Building Size

2,500 SF

Asset Type

Retail

Closing

Apr 24, 2022

AI

The retail property located at 477 Madison Avenue in Midtown has recently been leased. The lease was secured by FedEx Office, with the deal finalized on 04/25/2022. The property is owned by RFR Realty and was represented by Brandon Singer, Michael Cody, and Sara Armet of Retail By MONA. Josh Strauss and Scott Zinovoy of Newmark acted as the tenant's representatives in the transaction. The asking rent for the 2,500 square feet space was $250 per square foot.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: N/A
  • Address: 477 Madison Avenue
  • Market: Midtown

The lease transaction for the retail property at 477 Madison Avenue involved several key individuals and companies. The landlord, RFR Realty, entrusted the representation of the property to Brandon Singer, Michael Cody, and Sara Armet of Retail By MONA. On the tenant's side, FedEx Office was represented by Josh Strauss and Scott Zinovoy of Newmark. The deal was finalized at an asking rent of $250 per square foot, with a total space of 2,500 square feet.

Players

Brandon Singer

Retail By Mona

Broker

$84.3M

vol

59 deals

Broker
FO
FedEx OfficeTenant

New York Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

Loading comparables…

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