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656 6th Avenue

Updated Oct 2, 2026

Maison Estelle Leases 30,000 Square Feet In Flatiron District At 656 6th Avenue
LEASEDRetail

Maison Estelle Leases 30,000 Square Feet In Flatiron District At 656 6th Avenue

656 6th Avenue

Building Size

30,000 SF

Asset Type

Retail

Closing

Sep 30, 2026

About this deal

AI

A retail asset located at 656 6th Avenue, in Manhattan’s Flatiron District, has been leased to Maison Estelle. The property encompasses a total area of 30,000 square feet and is situated within the former Church of the Holy Communion, which previously housed the Limelight nightclub.

Summary of transaction details:

The lease marks Maison Estelle's entrance into the United States market, with key individuals involved in this transaction being Ben Ashkenazy representing the landlord and multiple representatives from Savills for the tenant. Daniel Iwanicki acted on behalf of the landlord in this deal.

On the Map

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Retail

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Players

Jordan Weiss

Savills

Broker

2 deals

Broker

Ben Ashkenazy

Ashkenazy Acquisition

Broker

$721.3M

vol

16 deals

Broker
Maison Estelle
Maison EstelleBuyer

Ben Ashkenazy

Ashkenazy Acquisition Corporation

Landlord

$721.3M

vol

16 deals

Landlord
Bilt advertisement

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

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