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6 West 48th Street

HMS International Fabrics Leases Retail Space At 6 West 48th Street Manhattan For $50/ft
LEASEDRetail

HMS International Fabrics Leases Retail Space At 6 West 48th Street Manhattan For $50/ft

6 West 48th Street

$50

$50/SF

Building Size

5,500 SF

Asset Type

Retail

Closing

Dec 20, 2024

AI

The property asset involved in this transaction is a retail space located at 6 West 48th Street in Manhattan. The lease type is a Modified Gross Lease with an asking rent of $50 per square foot for a total area of 5,500 square feet.

Summary of transaction details:

The deal involved several key individuals representing the parties. The landlord was represented by James Famularo, Jacob Mayer, and Myles Vandell from Meridian Capital Group. On the tenant's side, Jeffrey Zund represented HMS International Fabrics through Resolution Real Estate Partners.

Players

James Famularo

Meridian Capital Group

Broker

$11.4M

vol

367 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

317260.00%

Cash-on-Cash

-90673.88%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93