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525 Hudson Street, Manhatta...

BirdDog Leases Retail Space At 525 Hudson Street In West Village
LEASEDRetail

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

Joshua Kaufman

Bluestar Properties, Inc.

Broker

$31.9M

vol

11 deals

Broker
Time Equities
Time EquitiesBrokerage
Time Equities
Time EquitiesLandlord

New York Retail Market Snapshot

Boundary boundary ยท Retail ยท 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