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488 3rd Avenue, Brooklyn, N...

Agave NYC Signs 10-Year Lease For Retail Space In Murray Hill At 488 3rd Avenue
LEASEDRetail

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

Jason Gerbsman

Broker

2 deals

Broker
MM
Manhattan Skyline ManagementLandlord

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93