Yummy Cheese Pasta Signs Retail Lease At 695 9th Avenue In Hells Kitchen
695 9th Avenue
$129
$129/SF
Building Size
1,300 SF
Asset Type
Retail
Closing
Sep 20, 2024
AI
The property asset involved in this transaction is a retail lease located at 695 9th Avenue in the Hells Kitchen area of Manhattan. The lease covers a space of 1,300 square feet with an asking rent of $129 per square foot.
Summary of transaction details:
- Property Type: Retail Lease
- Transaction Amount: $129/ft
- Address: 695 9th Avenue
- Market: Hells Kitchen, Manhattan
- Landlord: Patricia Parsons - Clinton Corner HDFC
- Tenant: Yummy Cheese Pasta
- Brokers: James Famularo, Bobby Ortense & Myles Vandell - Meridian Capital Group
The deal involved key individuals from Meridian Capital Group, specifically brokers James Famularo, Bobby Ortense, and Myles Vandell, who represented the parties involved in the transaction, facilitating the agreement between landlord Patricia Parsons and tenant Yummy Cheese Pasta.
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
122968.99%
Cash-on-Cash
-35144.92%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93