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658 9th Avenue, Manhattan, ...

IPizzaNY Leases Retail Space At 658 9th Ave. In Hell's Kitchen | Sholom Kanevsky - Kassin Sabbagh Realty
LEASEDRetail

IPizzaNY Leases Retail Space At 658 9th Ave. In Hell's Kitchen | Sholom Kanevsky - Kassin Sabbagh Realty

658 9th Avenue, Manhattan, New York, NY, USA

Building Size

1,100 SF

Asset Type

Retail

Closing

Aug 24, 2021

AI

A retail asset located at 658 9th Ave in Hell's Kitchen recently completed a lease transaction. The property, measuring 1,100 square feet, was leased to the tenant, @iPizzaNY. The deal was facilitated by broker Sholom Kanevsky from Kassin Sabbagh Realty. The asking rent for the space was $218 per square foot.

Summary of transaction details

  • Property Type: Retail
  • Tenant: @iPizzaNY
  • Broker: Sholom Kanevsky - Kassin Sabbagh Realty
  • Address: 658 9th Ave
  • Market: Hell's Kitchen
  • Asking Rent: $218/ft
  • SF: 1,100

The lease agreement for the retail space at 658 9th Ave was successfully negotiated by Sholom Kanevsky from Kassin Sabbagh Realty. The tenant, @iPizzaNY, secured the space for an undisclosed duration. The deal signifies a positive transaction in the Hell's Kitchen market, where the demand for retail space remains strong.

Players

Sholom Kanevsky

Kassin Sabbagh Realty

Broker

11 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93