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
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