L'Agence Signs Lease For Retail Space At 956 Madison Avenue With Simon Dallimore As Tenant's Rep
956 Madison Avenue
Building Size
3,300 SF
Asset Type
Retail
Closing
Jun 1, 2024
About this deal
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.
On the Map
Retail
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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