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771 9th Avenue, New York Ci...

Urban Pathways Inc. Leases Retail Space In Hell's Kitchen, NYC
LEASEDRetail

Urban Pathways Inc. Leases Retail Space In Hell's Kitchen, NYC

771 9th Avenue, New York City, New York 10011, United States

Building Size

15,000 SF

Asset Type

Retail

Closing

Feb 14, 2022

AI

The property asset involved in the transaction is located at 771 Ninth Avenue in Hell's Kitchen. This retail space encompasses 15,000 square feet and had an asking rent of $80 per square foot.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $1,200,000
  • Address: 771 Ninth Avenue
  • Market: Hell's Kitchen
  • Tenant: Urban Pathways Inc.
  • Tenant's Representative: Ben Carlos Thypin - Quantierra Advisors LLC
  • Landlord's Representative: James Famularo - Meridian Retail Leasing

This lease transaction features Urban Pathways Inc. as the tenant, represented by Ben Carlos Thypin from Quantierra Advisors LLC, indicating a professional brokerage involvement. The landlord's side is represented by James Famularo from Meridian Retail Leasing, highlighting the roles of experienced brokers in facilitating this deal.

Players

Ben Carlos Thypin

Quantierra

Broker

$199.2M

vol

12 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