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600 Madison Ave, New York, ...

Planet Home Lending Leases 2303 Square Feet At 600 Madison Ave New York With Ruben Companies
LEASEDRetail

Planet Home Lending Leases 2303 Square Feet At 600 Madison Ave New York With Ruben Companies

600 Madison Ave, New York, NY, 10022

Building Size

2,303 SF

Asset Type

Retail

Closing

Dec 9, 2020

AI

The transaction involves a lease of a commercial property located at 600 Madison Ave, New York, NY, 10022. The property spans 2,303 square feet within the New York market.

Summary of transaction details:

In this transaction, the tenant, Planet Home Lending, was represented by Charles T. Gerace II and Jason Roberts from JLL, while the landlord, Ruben Companies, was represented by David Falk and Jonathan Franzel from Newmark.

Players

David Falk
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David Falk

Newmark

Broker

61 deals

Broker
Ruben Companies
Ruben CompaniesLandlord

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