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550 7th Ave, New York, NY, ...

Nassimi Leases Retail Space At 550 7th Ave, New York From Adler Group
LEASEDRetail

Nassimi Leases Retail Space At 550 7th Ave, New York From Adler Group

550 7th Ave, New York, NY, 10018

Building Size

12,005 SF

Asset Type

Retail

Closing

Sep 20, 2021

AI

The retail property located at 550 7th Ave, New York, NY, 10018, boasts a generous square footage of 12,005. This property in New York was involved in a lease transaction dated September 20, 2021. The deal was facilitated between the landlord, Adler Group, and the tenant, Nassimi. The landlord was represented by Samuel (Sam) Hartstein of Gemstone Realty Group.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not Applicable
  • Address: 550 7th Ave, New York, NY, 10018
  • Market: New York
  • Landlord's Rep: Samuel (Sam) Hartstein (Gemstone Realty Group)
  • Tenant: Nassimi

The lease transaction at 550 7th Ave in New York involved the landlord's representative, Samuel (Sam) Hartstein from Gemstone Realty Group, negotiating on behalf of the landlord, Adler Group, with the tenant, Nassimi. The property, with its expansive square footage, served as the space for the lease agreement between the two parties. The bustling market of New York witnessed this deal, highlighting the thriving real estate activity in the area.

Players

Samuel Hartstein

Gemstone Realty Group

Broker

$5.5M

vol

15 deals

Broker
AG
Adler GroupLandlord

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