Club Pilates Signs Lease For Retail Space At 501 Seventh Avenue With Ripco's Emily Simmonds As Tenant Rep
501 7th Ave New York, NY 10018, USA
$41
$41/SF
Building Size
1,805 SF
Asset Type
Retail
Closing
Jul 19, 2023
AI
Club Pilates has signed a new lease for a 1,805 square foot retail space located at 501 Seventh Avenue in New York. The asking rent for the space was $41.73 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Lease
- Date: 07/19/2023
- Tenant: Club Pilates
- Broker: Emily Simmonds - Ripco
- Address: 501 Seventh Avenue
- Market: New York
- Asking Rent: $41.73/ft
- SF: 1,805
Emily Simmonds of RIPCO represented Club Pilates as the tenant in the lease negotiations. The deal signifies the expansion of Club Pilates into a new location in New York.
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
386902.44%
Cash-on-Cash
-110577.90%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93