RFR Realty Leases Retail Space To Charles Tyrwhitt At 477 Madison Avenue In Midtown Manhattan
477 Madison Avenue
Building Size
4,500 SF
Asset Type
Retail
Closing
Apr 30, 2025
About this deal
AI
The property asset involved in this transaction is a retail space located at 477 Madison Avenue in Midtown Manhattan. It has a modified gross lease structure, with an asking rent of $400 per square foot over a long-term lease arrangement. The total square footage of the property is 4,500.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $400/ft
- Address: 477 Madison Avenue
- Market: Midtown Manhattan
- Lease Term: Long Term
- Lease Type: Modified Gross Lease
- Landlord: RFR Realty
- Tenant: Charles Tyrwhitt
- Landlord's Representative: Brandon Singer, Suzanne Bernstock & John DiGangi - Retail By Mona
- Tenant's Representative: Michael O'Neill - Cushman & Wakefield
Brandon Singer, Suzanne Bernstock, and John DiGangi represented RFR Realty in this transaction, while Michael O'Neill was the representative for the tenant, Charles Tyrwhitt, under Cushman & Wakefield. The collaborative efforts of these professionals facilitated the lease agreement, marking a significant step in the asset's occupancy strategy.
On the Map
Retail
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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
39657.50%
Cash-on-Cash
-11334.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93