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
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
90645.71%
Cash-on-Cash
-25906.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93