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86 Chambers Street

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

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

76 deals

Broker
Nuveen
NuveenLender
Nuveen
NuveenLandlord

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