Verizon Wireless Leases Retail Space At 750 8th Avenue With Landlord Hersel Torkian
750 8th Avenue
$250
$250/SF
Building Size
1,200 SF
Asset Type
Retail
Closing
Sep 1, 2024
AI
The retail asset located at 750 8th Avenue in the Theater District features an asking rent of $250 per square foot for a total of 1,200 square feet.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $250/ft
- Address: 750 8th Avenue
- Market: Theater District
- Lease Type: Retail Lease
- Landlord: Hersel Torkian
- Tenant: Verizon Wireless
- Brokers: Sophia Gaines, Solomon Sharaby, Albert Manopla & Marc Sitt - KSR
This transaction involved multiple brokers working under KSR, representing the landlord and tenant in securing the lease for the property, facilitating negotiations and ensuring all parties' interests were addressed throughout the process.
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
63452.00%
Cash-on-Cash
-18134.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93