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675 6th Avenue

DXL Big & Tall Signs 8-Year Lease For Retail Space In Chelsea
LEASEDRetail

DXL Big & Tall Signs 8-Year Lease For Retail Space In Chelsea

675 6th Avenue

Building Size

Asset Type

Retail

Closing

Mar 28, 2024

AI

675 6th Avenue in Chelsea, a 10,500-square-foot retail space, was leased by DXL Big + Tall. The move from 703 Avenue of the Americas to the new location is scheduled for this summer.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not provided
  • Address: 675 6th Avenue
  • Market: Chelsea

Jeffrey Gural from GFP Real Estate serves as the landlord for the leased retail space. DXL Big + Tall, the men's apparel retailer, was represented by Joanne Podell & Michael Shalom from Cushman & Wakefield. Andrew Taub & Benjamin Birnbaum from Newmark represented the landlord in the transaction.

Players

Andrew Taub

Newmark

Broker

$5.9M

vol

10 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