Limusina Leases Retail Space At 441 Ninth Avenue In Hudson Yards For 15 Years
441 Ninth Avenue
$200
$200/SF
Building Size
8,465 SF
Asset Type
Retail
Closing
Apr 28, 2024
AI
The property asset involved in this lease transaction is located at 441 Ninth Avenue in the Hudson Yards market. This retail space consists of 8,465 square feet and is under a 15-year single net lease with an asking rent of $200 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $1,693,000
- Lease Term: 15 years
- Lease Type: Single Net Lease
- Landlord: CommonWealth Partners
- Tenant: Limusina
- Landlord's Rep: Steven E. Baker, Michael Shkreli & Daniyel Cohen - RTL Real Estate
- Tenant's Rep: Taryn Brandes & Emily Green - Brand Urban
This deal showcases the collaboration of various representatives in the transaction. Landlord's representatives Steven E. Baker, Michael Shkreli, and Daniyel Cohen from RTL Real Estate worked to finalize the lease with tenant representatives Taryn Brandes and Emily Green from Brand Urban, facilitating the successful agreement between CommonWealth Partners and Limusina.
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
79315.00%
Cash-on-Cash
-22668.47%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93