Agave NYC Signs 10-Year Lease For Retail Space In Murray Hill At 488 3rd Avenue
488 3rd Avenue, Brooklyn, NY 11215
Building Size
2,028 SF
Asset Type
Retail
Closing
Nov 1, 2018
AI
Agave NYC, a restaurant group, has signed a lease for a retail space located at 488 3rd Avenue in Murray Hill. The space spans 2,028 square feet and the lease term is set for 10 years. The property is owned by Manhattan Skyline Management - The Zucker Organization.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 488 3rd Avenue, Murray Hill
- Market: Murray Hill
- Tenant: Agave NYC
- Landlord: Manhattan Skyline Management - The Zucker Organization
- Tenant Representative: David Dushey, Hudson
- Landlord Representative: Josh Roth
- Price per Square Foot: $175
David Dushey from Hudson represented the tenant, Agave NYC, while Josh Roth represented the landlord, Manhattan Skyline Management - The Zucker Organization, in this lease transaction.
Players
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