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:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 527 Madison Avenue
- Market: Midtown
- Landlord: John B. Kessler - Mitsui Fudosan America
- Tenant: Paolo Selva - Boggi Milano
- Landlord's Representative: Caleb Petersen, Drew Weiss & Jeffrey Roseman - Newmark
- Tenant's Representative: Brandon Miller & David Abrams - Masonre
- Lease Term: 10-year
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
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