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
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