BirdDog Leases Retail Space At 525 Hudson Street In West Village
525 Hudson Street, Manhattan, New York, NY, USA
Building Size
1,000 SF
Asset Type
Retail
Closing
Jul 31, 2021
AI
525 Hudson Street, located in the West Village, was recently leased for retail purposes. The property is owned by Time Equities and the tenant is BirdDog, a restaurant specializing in pasta and poultry dishes. The lease deal was facilitated by Joshua Kaufman from Bluestar Properties Inc. and Craig Gelberg from RIPCO Real Estate, who represented BirdDog, and Scott Klatsky and Scott Schneiderman from Time Equities, who represented the landlord.
Summary of transaction details
- Property Type: Retail
- Transaction Date: 08/01/2021
- Market: West Village
- Asking Rent: $255/ft.
- Square Footage: 1,000
The lease of 525 Hudson Street to BirdDog reflects the growing demand for retail space in the West Village market. With an asking rent of $255 per square foot for a 1,000 square foot space, the deal showcases the value and potential of this prime retail location. Both the tenant and landlord were represented by experienced professionals in the real estate industry, with Joshua Kaufman from Bluestar Properties Inc. and Craig Gelberg from RIPCO Real Estate serving as BirdDog's representatives, and Scott Klatsky and Scott Schneiderman from Time Equities acting on behalf of the landlord.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93