Baudoin And Lange Leases Retail Space At 944 Madison Avenue In Manhattan For $500 Per Ft
944 Madison Avenue
$500
$500/SF
Building Size
1,500 SF
Asset Type
Retail
Closing
Nov 1, 2024
AI
The property involved in this transaction is a retail asset situated at 944 Madison Avenue in Manhattan. The asking rent for this space is set at $500 per square foot, encompassing a total of 1,500 square feet. The lease term is established as long-term, indicating a commitment to a prolonged occupancy under a retail lease agreement.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $500/ft
- Address: 944 Madison Avenue
- Market: Manhattan
- Landlord: 944 Madison Co-Op Board
- Tenant: Baudoin and Lange
- Brokers: Brandon Singer, Eric Le Goff & Max Kreinces - Retail By Mona
- Lease Type: Retail Lease
- Square Footage: 1,500 SF
This transaction was facilitated by brokers Brandon Singer, Eric Le Goff, and Max Kreinces, who represent the interests of the landlord and tenant in the leasing process. Their roles encompass negotiating terms and ensuring compliance with lease agreements, contributing to the successful execution of this retail lease.
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
31726.00%
Cash-on-Cash
-9067.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93