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
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