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560 3rd Avenue

3rd Ave Delight Secures Retail Lease At 560 3rd Avenue In Murray Hill From Scott Rifkin
LEASEDRetail

3rd Ave Delight Secures Retail Lease At 560 3rd Avenue In Murray Hill From Scott Rifkin

560 3rd Avenue

$125

$125/SF

Building Size

1,100 SF

Asset Type

Retail

Closing

Sep 23, 2024

AI

The retail property located at 560 3rd Avenue in the Murray Hill area of Manhattan features a total square footage of 1,100 and is leased at an asking rent of $125 per foot. This property is involved in a retail lease transaction.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $137,500
  • Address: 560 3rd Avenue
  • Market: Murray Hill, Manhattan
  • Landlord: Scott Rifkin - Murray Hill Mews Owners Corp
  • Tenant: 3rd Ave Delight
  • Landlord's Representative: Max Kreinces - Retail By Mona
  • Tenant's Representative: Benjamin Namdar - ARA

The deal features Scott Rifkin, representing the landlord as part of the Murray Hill Mews Owners Corp, while Benjamin Namdar serves as the tenant's representative from ARA. Max Kreinces is representing the landlord's interests in this transaction.

Players

Max Kreinces

Retail By Mona

Broker

$35.3M

vol

18 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

126904.00%

Cash-on-Cash

-36269.55%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93