Artsy Flora Floral Boutique Leases Retail Space At 507 West 42nd Street In Hell's Kitchen
507 West 42nd Street
$120
$120/SF
Building Size
1,600 SF
Asset Type
Retail
Closing
Oct 2, 2023
About this deal
AI
The property involved in this lease transaction is located at 507 West 42nd Street in Hell's Kitchen, Manhattan. It is a retail space with a total square footage of 1,600. The landlord of the property is Christopher O'Hara, representing 501 W. 42nd Street Realty Corp. The tenant is Artsy Flora Floral Boutique, and the lease deal was facilitated by brokers James Famularo and Jacob Mayer of Meridian Capital Group. The asking rent for the space is $120 per square foot.
Summary of transaction details
- Property Type: Retail
- Asking Rent: $120/ft
- Square Footage: 1,600
- Address: 507 West 42nd Street, Hell's Kitchen, Manhattan
- Landlord: Christopher O'Hara - 501 W. 42nd Street Realty Corp
- Tenant: Artsy Flora Floral Boutique
- Brokers: James Famularo & Jacob Mayer - Meridian Capital Group
The lease transaction was successfully negotiated by brokers James Famularo and Jacob Mayer from Meridian Capital Group. Christopher O'Hara, representing 501 W. 42nd Street Realty Corp, acted as the landlord for the property. Artsy Flora Floral Boutique will be operating their business in the retail space located at 507 West 42nd Street. This transaction marks a significant milestone for the tenants in securing a suitable location for their floral boutique.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
132191.67%
Cash-on-Cash
-37780.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93