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584 8th Avenue, New York Ci...

AM/PM Market Leases Retail Space At 584 8th Ave In Midtown Manhattan
LEASEDRetail

AM/PM Market Leases Retail Space At 584 8th Ave In Midtown Manhattan

584 8th Avenue, New York City, New York 10018, United States

Building Size

1,150 SF

Asset Type

Retail

Closing

Feb 1, 2022

AI

An AM/PM Market in Midtown has recently leased a retail space at 584 8th Ave. The transaction took place on 02/02/2022 with a lease agreement. The property has a total area of 1,150 square feet.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Lease
  • Address: 584 8th Ave.
  • Market: Midtown

The landlord, GUR Associates represented by Shmaya Glick, facilitated the lease deal with AM/PM Market. The tenant was represented by David Green and David Sabbagh from KSR. The landlord's representatives include Louis Franco, Jack Hurley, and Joseph Isa from ISA Realty Group.

The asking rent for the space was $300 per square foot.

Players

David Sabbagh

Kassin Sabbagh Realty

Broker

60 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93