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
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