SL Green Realty Leases Retail Space To 7forallmankind At 625 Madison Avenue In Midtown Manhattan
625 Madison Ave, New York, NY 10022, USA
Building Size
30,000 SF
Asset Type
Retail
Closing
Nov 10, 2019
About this deal
AI
A retail property located at 625 Madison Avenue in Midtown has been involved in a closed transaction. The asset has a total square footage of 3,000 and was leased by @7forallmankind. The landlord in this deal is @SLGreen_Realty. The property was represented by Dorel Melloul, Marc Sitt, and Albert Manopla.
Summary of transaction details
- Property Type: Retail
- Asking Rent: $700 / SF
- Tenant: @7forallmankind
- Landlord: @SLGreen_Realty
- Broker: Dorel Melloul, Marc Sitt, Albert Manopla
The deal, which took place on 11/11/2019, highlights the collaboration between the tenant, @7forallmankind, and the landlord, @SLGreen_Realty. The leasing process was facilitated by Dorel Melloul, Marc Sitt, and Albert Manopla, representing the property's interests.
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