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
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