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
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