Lilly's Leases Retail Space On Hell's Kitchen's 9th Ave
574 9th Avenue, New York City, New York 10036, United States
Building Size
1,400 SF
Asset Type
Retail
Closing
Feb 24, 2022
About this deal
AI
Located in Hell's Kitchen at 574 9th Ave., a retail space has been leased by Lilly's. The lease was finalized on February 25, 2022, with a monthly rent of $190 per square foot for a total of 1,400 square feet. The property is owned by Klosed Properties. The deal was facilitated by the brokers David Green, Ike Bibi, and David Sabbagh from KSR.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Lease
- Address: 574 9th Ave.
- Market: Hell's Kitchen
- Asking Rent: $190/ft.
- Square Footage: 1,400
- Landlord: Klosed Properties
- Tenant: Lilly's
- Brokers: David Green, Ike Bibi, and David Sabbagh - KSR
David Green, Ike Bibi, and David Sabbagh from KSR played a key role in facilitating the lease deal for Lilly's at 574 9th Ave. in Hell's Kitchen. With their expertise, the lease was successfully negotiated with a monthly rent of $190 per square foot for a total area of 1,400 square feet.
Players
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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