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607 9th Avenue, Manhattan, ...

Gourmet Market Leases Retail Space In Hell's Kitchen For $166/ft. At 607 9th Avenue
LEASEDRetail

Gourmet Market Leases Retail Space In Hell's Kitchen For $166/ft. At 607 9th Avenue

607 9th Avenue, Manhattan, New York, NY, USA

Building Size

1,300 SF

Asset Type

Retail

Closing

Dec 13, 2020

AI

A retail space located at 607 9th Avenue in Hell's Kitchen has been leased to Gourmet Market. The lease was facilitated by brokers David Green and Ori Melloul from Kassin Sabbagh Realty. The property, owned by Beach Lane Management and represented by Mark Scharfman, offers approximately 1,300 square feet of space. The asking rent for the lease was $166 per square foot.

Summary of transaction details:

  • Property Type: Retail
  • Tenant: Gourmet Market
  • Landlord: Beach Lane Management - Mark Scharfman
  • Date: 12/14/2020
  • Address: 607 9th Avenue
  • Market: Hell's Kitchen
  • Brokers: David Green & Ori Melloul @Kassin_Sabbagh_Realty
  • Asking Rent: $166/ft.
  • Square Footage: 1,300

The leased retail space at 607 9th Avenue in Hell's Kitchen was successfully negotiated by brokers David Green and Ori Melloul from Kassin Sabbagh Realty. Gourmet Market will now occupy this space, which is owned by Beach Lane Management and represented by Mark Scharfman. The transaction was finalized on 12/14/2020, with an asking rent of $166 per square foot for the approximately 1,300 square feet of retail space.

Players

David Green

Kassin Sabbagh Realty

Broker

$447M

vol

176 deals

Broker

Mark Scharfman

Beach Lane Management

Landlord

$44M

vol

6 deals

Landlord
GM
Gourmet MarketTenant

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