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
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