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538 W 181st St, New York, N...

312 Food Corp. Leases Retail Space At 538 W 181st St, New York
LEASEDRetail

312 Food Corp. Leases Retail Space At 538 W 181st St, New York

538 W 181st St, New York, NY, 10033

Building Size

7,500 SF

Asset Type

Retail

Closing

Jun 4, 2020

AI

The property at 538 W 181st St, New York, NY, 10033, is a retail asset spanning 7500 square feet. The lease for this property was finalized on 06/04/2020 in New York. The tenant, 312 Food Corp., was represented by Maria Fernandez from Avison Young, while the landlord, Won Merchandise Corporation, was represented by Ryan Chong.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not Applicable
  • Tenant: 312 Food Corp.
  • Tenant's Rep: Maria Fernandez (Avison Young)
  • Landlord: Won Merchandise Corporation
  • Landlord's Rep: Ryan Chong
  • Address: 538 W 181st St, New York, NY, 10033
  • Market: New York
  • Square Feet: 7500
  • Date: 06/04/2020

The collaboration between Maria Fernandez from Avison Young and Ryan Chong in this transaction demonstrates the significance of knowledgeable and adept representatives in sealing successful lease agreements within the New York market. The interaction and negotiation skills of Maria Fernandez proved instrumental in securing the ideal terms for 312 Food Corp., enhancing their presence in a competitive market. On the other hand, Ryan Chong's expertise played a vital role in safeguarding the interests of Won Merchandise Corporation, ensuring a mutually beneficial arrangement for both parties involved.

Players

Ryan Chong

Broker

2 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