Delshah Capital Leases Retail Space To Chelsea Wine Storage In New York
761 7th Ave New York, NY 10019, USA
$90
$90/SF
Building Size
9,538 SF
Asset Type
Retail
Closing
Dec 1, 2022
About this deal
AI
Chelsea Wine Storage has signed a 12-year lease for a retail space located at 761 Seventh Avenue in New York. The property, owned by Delshah Capital, spans over 9,538 square feet and was secured with the assistance of tenant representative Josh Goldman from Avison Young. The lease was finalized on December 1, 2022, with an asking rent of $90 per square foot.
Summary of Transaction Details:
- Property Type: Retail
- Transaction Amount: Lease agreement
- Address: 761 Seventh Avenue, New York
- Tenant: Chelsea Wine Storage
- Tenant's Representative: Josh Goldman - Avison Young
- Landlord: Delshah Capital
- Landlord's Representatives: Jeffrey Roseman & Drew Weiss - Newmark
- Asking Rent: $90 per square foot
- Lease Terms: 12-year lease
Jeffrey Roseman and Drew Weiss from Newmark represented the landlord, Delshah Capital in the transaction. They played a crucial role in negotiating on behalf of the landlord throughout the lease agreement process.
On the Map
$90
$90/SF
Retail
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
176255.56%
Cash-on-Cash
-50374.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93