Klosed Properties Leases Retail Space In Hell's Kitchen To Love Olde City & HuaCheng Restaurant
578 9th Avenue, New York City, New York 10036, United States
Building Size
1,800 SF
Asset Type
Retail
Closing
Dec 21, 2021
About this deal
AI
A retail property located at 578 9th Avenue in Hell's Kitchen has been leased. The transaction took place on December 21, 2021. The asset spans an area of 1,800 square feet.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not mentioned
- Address: 578 9th Avenue
- Market: Hell's Kitchen
The landlord of the property is Klosed Properties, represented by Steven Kachanian. The tenants of the property are Love Olde City and HuaCheng Restaurant. The deal was facilitated by David Green, Ike Bibi, and David Sabbagh from KSR brokerage.
The property was leased for an asking rent of $335 per square foot.
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