Sherr Equities, LLC Leases Retail Space At 489 Broadway New York For $625/SF
489 Broadway, New York, NY, 10012
$625
$625/SF
Building Size
500 SF
Asset Type
Retail
Closing
Apr 21, 2016
About this deal
AI
A lease was executed for a property located at 489 Broadway, New York, NY, 10012. The total square footage of the lease is 500, and the rent is set at $625 per square foot. The market for this transaction is New York.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: 312500
- Address: 489 Broadway, New York, NY, 10012
- Landlord: Sherr Equities, LLC
- Landlord's Representative: Harold Sherr
- Square Feet: 500
- Rent/SF: 625
Harold Sherr represents the landlord Sherr Equities, LLC in this lease transaction, facilitating the agreement between the involved parties. Further details about the tenant were not specified in the provided context.
On the Map
$625
$625/SF
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
25380.80%
Cash-on-Cash
-7253.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93