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566 7th Avenue

Alter Native Retail Leases Retail Space At 566 7th Avenue, New York City
LEASEDRetail

Alter Native Retail Leases Retail Space At 566 7th Avenue, New York City

566 7th Avenue

$350

$350/SF

Building Size

4,000 SF

Asset Type

Retail

Closing

Dec 5, 2022

AI

The retail property located at 566 7th Avenue in New York City has been leased by Alter Native Retail. The lease term is set for 15 years at an asking rent of $350 per square foot. The property spans 4,000 square feet.

Summary of transation details

Steven Evans, Joseph Zalta, and Khashy Eyn from Platinum Properties represented both the landlord, Ebm Development Company, and the tenant, Alter Native Retail, in this lease transaction.

Players

Khashy Eyn

Platinum Commercial

Broker

$581.9M

vol

24 deals

Broker

New York City 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

45322.86%

Cash-on-Cash

-12953.41%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93