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
Building Size
1,805 SF
Asset Type
Retail
Closing
Jul 19, 2023
About this deal
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.
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Retail
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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