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55 Mercer Street

Odd Muse Leases 4000 Square Feet Retail Space At 55 Mercer Street New York City
LEASEDRetail

Odd Muse Leases 4000 Square Feet Retail Space At 55 Mercer Street New York City

55 Mercer Street

Building Size

4,000 SF

Asset Type

Retail

Closing

Mar 20, 2025

AI

The transaction involves a retail asset located at 55 Mercer Street in the New York City market. The property encompasses a total of 4,000 square feet, with MKFH acting as the landlord. The agreement was finalized on March 20, 2025, accommodating the tenant, Odd Muse, under a lease agreement.

Summary of transaction details:

The deal was facilitated by several representatives from Newmark, highlighting the collaborative effort with Gary Alterman, Richard Gelber, and Caleb Petersen representing the landlord in the negotiation process. Jake Horowitz from Colliers represented the tenant, Odd Muse, in this lease agreement.

Players

Caleb Petersen

Newmark

Broker

7 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