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
About this deal
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.
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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