ANAR Leases Retail Space In Hell's Kitchen, Manhattan From Beach Lane Management
615 9th Avenue
$160
$160/SF
Building Size
1,500 SF
Asset Type
Retail
Closing
May 16, 2024
AI
The retail property located at 615 9th Avenue in Hell’s Kitchen, Manhattan, was recently leased out. The asset boasts a total square footage of 1,500 square feet with an asking rent of $160 per square foot. The landlord, Mitch Rothken from Beach Lane Management, successfully secured a deal with the tenant, ANAR, for a retail lease.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: Not provided
- Landlord: Mitch Rothken - Beach Lane Management
- Tenant: ANAR
- Brokers: Albert Salameh, David Green & Daniel Kestenbaum - KSR
Albert Salameh, David Green, and Daniel Kestenbaum from KSR played a pivotal role as brokers in facilitating the lease agreement between Mitch Rothken and ANAR for the retail space at 615 9th Avenue. This successful transaction demonstrates the expertise and negotiation skills of the involved parties in the competitive Hell’s Kitchen market.
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
99143.75%
Cash-on-Cash
-28335.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93