Garan Leases Retail Space At 99 Park Ave, New York From Global Holdings
99 Park Ave, New York, NY, 10016
Building Size
31,754 SF
Asset Type
Retail
Closing
Feb 7, 2022
AI
The retail property located at 99 Park Ave, New York, NY, 10016, spans 31,754 square feet. The lease transaction was completed on 02/07/2022 in the New York market. The tenant, Garan, was represented by Noel Flagg from Newmark, while the landlord was Global Holdings Management Group.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: Not mentioned
- Tenant: Garan
- Tenant's Rep: Noel Flagg (Newmark)
- Landlord: Global Holdings Management Group
- Address: 99 Park Ave, New York, NY, 10016
- Market: New York
- Square Feet: 31,754
The deal's key individuals included Noel Flagg from Newmark, representing the tenant, Garan, and the landlord, Global Holdings Management Group. This transaction highlights the collaborative efforts of these parties in successfully finalizing the lease agreement.
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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93