Home Decor - Ben Soleimani Leases Retail Space On Madison Avenue In Midtown Manhattan
601 Madison Avenue, Manhattan, New York, NY, USA
Building Size
12,500 SF
Asset Type
Retail
Closing
Nov 15, 2021
AI
The retail property located at 601 Madison Avenue in Midtown has been leased to Home Decor - Ben Soleimani. The lease transaction took place on November 15, 2021. The property, spanning 12,500 square feet, was leased for an asking rent of $900 per square foot. The landlord of the property is Buchbinder & Warren, while the tenant, Home Decor - Ben Soleimani, was represented by Brandon Singer and Sara Armet of Retail By MONA. The landlord was represented by William Abramson and Matthew Olden of Buchbinder & Warren.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Leased
- Address: 601 Madison Avenue
- Market: Midtown
- Asking Rent: $900/ft.
- Square Footage: 12,500
Brandon Singer and Sara Armet, representing Retail By MONA, played a key role in securing the lease for Home Decor - Ben Soleimani. William Abramson and Matthew Olden, from Buchbinder & Warren, served as the landlord's representatives in this transaction.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93