L'Agence Signs Lease For Retail Space At 956 Madison Avenue With Simon Dallimore As Tenant's Rep
956 Madison Avenue
$455
$455/SF
Building Size
3,300 SF
Asset Type
Retail
Closing
Jun 1, 2024
AI
The property involved in this transaction is a retail asset located at 956 Madison Avenue, situated in the Lenox Hill neighborhood of Manhattan. The total square footage of the premises is 3,300, with an asking rent of $455 per square foot. It operates under a modified gross lease structure.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $455/ft
- Square Footage: 3,300
- Address: 956 Madison Avenue
- Market: Lenox Hill, Manhattan
- Tenant: L'Agence
- Asking Rent: $455/ft
- Lease Type: Modified Gross Lease
- Brokers: Peter Braus, Annie Squier & Morris Dweck - Lee & Associates NYC
- Tenant's Rep: Simon Dallimore - Dallimore & Co
Key individuals involved in the deal include brokers Peter Braus, Annie Squier, and Morris Dweck from Lee & Associates NYC, who facilitated the leasing process. Simon Dallimore of Dallimore & Co represented the tenant, L'Agence, in the transaction.
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
34863.74%
Cash-on-Cash
-9964.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93