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597 5th Ave, New York, NY, ...

Club Monaco Leases Retail Space In New York From Thor Equities For 13000 SF
LEASEDRetail

Club Monaco Leases Retail Space In New York From Thor Equities For 13000 SF

597 5th Ave, New York, NY, 10017

Building Size

13,000 SF

Asset Type

Retail

Closing

Nov 8, 2019

AI

The retail property located at 597 5th Ave, New York, NY, 10017, boasts a size of 13,000 square feet. This prime location in New York was leased by Club Monaco, with Thor Equities serving as the landlord. The deal was finalized on November 8, 2019.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Tenant's Representative: Robert (Bob) Cohen
  • Tenant: Club Monaco
  • Landlord: Thor Equities

Robert (Bob) Cohen played a pivotal role as the tenant's representative in the lease agreement for this property. The collaboration between Club Monaco and Thor Equities underscores the significance of tenant-landlord relationships in securing prime retail spaces in sought-after locations.

Players

Robert Cohen

Newmark

Broker

$153M

vol

6 deals

Broker
Thor Equities
Thor EquitiesLandlord

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