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83 University Pl, New York,...

Alloy Leases Retail Space At 83 University Pl, New York From Northwestern Mutual
LEASEDRetail

Alloy Leases Retail Space At 83 University Pl, New York From Northwestern Mutual

83 University Pl, New York, NY, 10003

Building Size

44,333 SF

Asset Type

Retail

Closing

Jul 20, 2021

AI

The property involved in this transaction is a retail asset located at 83 University Pl, New York, NY, with a total square footage of 44,333. The lease date is recorded as July 20, 2021, and it is situated in the New York market.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not disclosed
  • Square Feet: 44,333
  • Address: 83 University Pl, New York, NY, 10003
  • Market: New York
  • Tenant: Alloy
  • Landlord: Northwestern Mutual
  • Tenant's Representative: Michael Thomas - Cushman & Wakefield
  • Landlord's Representative: Scott Vinett - JLL

The transaction highlights the involvement of key representatives in the lease agreement, with Michael Thomas from Cushman & Wakefield representing the tenant, Alloy, while Scott Vinett from JLL represents the landlord, Northwestern Mutual. This collaborative effort showcases the professional engagement in the retail leasing sector within the New York market.

Players

Michael Thomas

Cushman & Wakefield

Broker

$29M

vol

3 deals

Broker
Northwestern Mutual
Northwestern Mutual Lender
Northwestern Mutual
Northwestern Mutual Landlord

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