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540 Madison Ave, New York, ...

Grand Seiko Leases 6259 Square Feet At 540 Madison Ave New York From DivcoWest
LEASEDRetail

Grand Seiko Leases 6259 Square Feet At 540 Madison Ave New York From DivcoWest

540 Madison Ave, New York, NY, 10022

Building Size

6,259 SF

Asset Type

Retail

Closing

Nov 19, 2023

AI

The property located at 540 Madison Ave, New York, NY, 10022 encompasses a total of 6,259 square feet. The transaction involves the landlord DivcoWest leasing the space to the tenant Grand Seiko, situated in the New York market.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not specified
  • Address: 540 Madison Ave, New York, NY, 10022
  • Market: New York
  • Square Feet: 6259
  • Tenant: Grand Seiko
  • Landlord: DivcoWest
  • Tenant's Representatives: Alexandra Tennenbaum, Benjamin Birnbaum (Newmark)
  • Landlord's Representative: Ariel Schuster (Newmark)

This transaction features significant involvement from Newmark, represented by Alexandra Tennenbaum and Benjamin Birnbaum for the tenant side, alongside Ariel Schuster representing the landlord, DivcoWest. Each party played a crucial role in facilitating this lease agreement.

Players

Ariel Schuster

Newmark

Broker

$461.2M

vol

27 deals

Broker
DivcoWest
DivcoWestLender
DivcoWest
DivcoWestLandlord

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