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
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