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86 Chambers Street

Updated Dec 4, 2024

Bilt advertisement
H&R Block Leases Retail Space In Tribeca, Manhattan From Nuveen
LEASEDRetail

H&R Block Leases Retail Space In Tribeca, Manhattan From Nuveen

86 Chambers Street

$175

$175/SF

Building Size

800 SF

Asset Type

Retail

Closing

Sep 1, 2023

About this deal

AI

The retail property located at 86 Chambers Street in Tribeca, Manhattan has been leased. The property, with a total square footage of 800 sq ft, was leased by H & R Block. The lease was facilitated by the landlord's representatives Andrew Stern and Ravi Idnani of Newmark, and the tenant was represented by Michael Azarian and James Ariola of Cushman & Wakefield. The lease type for the property is a Modified Gross Lease, with an asking rent of $175 per square foot.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: N/A
  • Address: 86 Chambers Street
  • Market: Tribeca, Manhattan

The landlord of the property is Nuveen, while H & R Block serves as the tenant. The deal was coordinated by Andrew Stern and Ravi Idnani of Newmark, representing the landlord, and Michael Azarian and James Ariola of Cushman & Wakefield, representing the tenant. The lease agreement was structured as a Modified Gross Lease, with an asking rent of $175 per square foot.

Players

Andrew Stern

Newmark

Broker

$5.4M

vol

81 deals

Broker
Nuveen
NuveenLender
Nuveen
NuveenLandlord

New York Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

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Deal FAQ

About $175 per square foot on a published $175 for 800 square feet (2023).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

90645.71%

Cash-on-Cash

-25906.82%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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