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
About this deal
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:
- Property Type: Retail
- Transaction Amount: Not disclosed
- Address: 6 West 48th Street
- Market: Manhattan
- Landlord: Jack Elo
- Tenant: HMS International Fabrics
- Landlord's Representative: James Famularo, Jacob Mayer & Myles Vandell - Meridian Capital Group
- Tenant's Representative: Jeffrey Zund - Resolution Real Estate Partners
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.
On the Map
$50
$50/SF
Retail
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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
317260.00%
Cash-on-Cash
-90673.88%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93