H&R Block Signs Lease At 575 2nd Avenue Kips Bay Represented By James Ariola
575 2nd Avenue
$100
$100/SF
Building Size
2,500 SF
Asset Type
Retail
Closing
Dec 4, 2025
AI
This retail asset is located at 575 2nd Avenue in the Kips Bay market of Manhattan. It has an asking rent of $100 per square foot and a total square footage of 2,500. The lease type is classified as a Modified Gross Lease.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $250,000
- Address: 575 2nd Avenue
- Market: Kips Bay, Manhattan
- Landlord: Vickers Realty
- Tenant: H&R Block
- Landlord's Representative: Hal Shapiro - RTL Real Estate
- Tenant's Representative: James Ariola - Cushman & Wakefield
Hal Shapiro from RTL Real Estate represented the landlord, Vickers Realty, while James Ariola from Cushman & Wakefield represented the tenant, H&R Block, in this lease 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
158630.00%
Cash-on-Cash
-45336.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93