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528 7th Ave, New York, NY, ...

Fred And Farid Signs Lease With Savitt Partners At 528 7th Ave New York For 5850 Square Feet
LEASEDRetail

Fred And Farid Signs Lease With Savitt Partners At 528 7th Ave New York For 5850 Square Feet

528 7th Ave, New York, NY, 10018

Building Size

5,850 SF

Asset Type

Retail

Closing

Nov 22, 2019

AI

The property involved in this transaction is located at 528 7th Ave, New York, NY, 10018. It encompasses a total area of 5,850 square feet and is situated in the New York market.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Tenant: Fred and Farid
  • Landlord: Savitt Partners
  • Tenant's Representative: Corey Borg - Newmark
  • Landlord's Representative: Brian Neugeboren

This deal highlights the involvement of prominent entities, with Fred and Farid as the tenants entering into a lease agreement with Savitt Partners as the landlord, supported by their respective representatives in the transaction.

Players

Brian Neugeboren

Broker

9 deals

Broker
Savitt Partners
Savitt PartnersBrokerage
Savitt Partners
Savitt PartnersLandlord

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