Albert Malekan Leases Retail Space To Exact Customer In Midtown Manhattan
552 7th Avenue
$60
$60/SF
Building Size
5,700 SF
Asset Type
Retail
Closing
May 1, 2024
About this deal
AI
The retail property located at 552 7th Avenue in Midtown Manhattan was involved in a lease transaction. The property spans 5,700 square feet and had an asking rent of $60 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not Applicable
- Address: 552 7th Avenue
- Market: Midtown Manhattan
- Landlord: Albert Malekan
- Tenant: Exact Customer
- Brokers: Amanda Malekhedayat & Jeff Geoghegan - KSR
- Lease Type: Retail Lease
The lease deal was facilitated by Amanda Malekhedayat and Jeff Geoghegan from KSR. The landlord of the property was Albert Malekan, and the tenant was identified as Exact Customer.
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
264383.33%
Cash-on-Cash
-75561.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93