Artishouse Signs Lease For 2,950 SF Retail Space In Garment District At 526 Seventh Avenue
526 7th Ave New York, NY 10018, USA
$35
$35/SF
Building Size
2,950 SF
Asset Type
Retail
Closing
May 12, 2023
AI
Artishouse, an organization that provides collaborative space for artists, has signed a lease for a 2,950 square-foot retail space at 526 Seventh Avenue in the Garment District, New York. The space is located in a luxury building offering excellent natural light and direct elevator exposure. The lease was brokered by Mark Gindi of MJ Property Group.
Summary of transaction details
- Property Type: Retail
- Address: 526 7th Ave New York, NY 10018, USA
Artishouse will be dividing the space into workstations for their members to develop their artistic style. The corner and full-floor unit will provide the organization with a suitable environment to foster creativity and collaboration.
Players
New York Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
453228.57%
Cash-on-Cash
-129534.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93