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527 Madison Avenue

Boggi Milano Signs 10-Year Lease For 8810 Square Feet At 527 Madison Avenue In Midtown
LEASEDRetail

Boggi Milano Signs 10-Year Lease For 8810 Square Feet At 527 Madison Avenue In Midtown

527 Madison Avenue

Building Size

8,810 SF

Asset Type

Retail

Closing

Dec 11, 2024

AI

The asset is located at 527 Madison Avenue in Midtown, featuring a retail space of 8,810 square feet. The lease has been established for a duration of 10 years.

Summary of transation details:

Italian menswear brand Boggi Milano has secured its second location in New York City with this lease agreement, indicating its ongoing expansion in the market.

Players

Caleb Petersen

Newmark

Broker

7 deals

Broker

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