Arc’teryx Leases Retail Space At 600 5th Avenue In Midtown Manhattan Via Rob Speyer
600 5th Avenue
Building Size
13,000 SF
Asset Type
Retail
Closing
Feb 20, 2024
AI
Located at 600 5th Avenue in Midtown Manhattan, the property is a retail space spanning approximately 13,000 square feet. The lease was secured by Arc’teryx, a Canadian outdoor apparel company, marking its presence in the Rockefeller Center area. The previous tenant, Aritzia, was replaced by Arc’teryx in this prime location.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Landlord: Rob Speyer - Tishman Speyer
- Tenant: Arc’teryx
- Market: Midtown Manhattan
- Address: 600 5th Avenue
- Size: 13,000 square feet
Rob Speyer, from Tishman Speyer, acted as the landlord in this deal, leasing out the retail space to Arc’teryx. Arc’teryx, a renowned Canadian brand known for its outdoor apparel, took over the nearly 13,000-square-foot space from Aritzia, solidifying its presence in the Rockefeller Center area of Midtown Manhattan.
Players
New York Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
Loading comparables…
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