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601 Madison Avenue, Manhatt...

Home Decor - Ben Soleimani Leases Retail Space On Madison Avenue In Midtown Manhattan
LEASEDRetail

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

Brandon Singer

Retail By Mona

Broker

$84.3M

vol

59 deals

Broker

Ben Soleimani

ABJ Properties

Tenant

$80.7M

vol

4 deals

Tenant

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