Pixida Leases Retail Space At 245 5th Avenue In Manhattan From Moinian Group
245 5th Avenue
$75
$75/SF
Building Size
16,129 SF
Asset Type
Retail
Closing
Oct 15, 2024
About this deal
AI
The property asset involved is a retail space located at 245 5th Avenue in Manhattan, featuring a total square footage of 16,129. The asking rent for this property is set at $75 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $75/ft
- Landlord: Moinian Group - Joseph Moinian
- Tenant: Pixida
- Landlord's Representative: Brad Schwarz & Olivia Hwang - Lee & Associates
- Tenant's Representative: David Graff - Compass
- Lease Type: Retail Lease
- Note: Blended Asking Rent
This transaction involved key individuals including Joseph Moinian representing the landlord, while the tenant, Pixida, was represented by David Graff from Compass. The landlord's interests were overseen by Brad Schwarz and Olivia Hwang from Lee & Associates.
On the Map
$75
$75/SF
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
211506.67%
Cash-on-Cash
-60449.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93