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615 9th Avenue

ANAR Leases Retail Space In Hell's Kitchen, Manhattan From Beach Lane Management
LEASEDRetail

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:

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

Daniel Kestenbaum

Kassin Sabbagh Realty

Broker

23 deals

Broker

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