Michael Shah Of Delshah Capital Leases 10,600 SF Retail Space To Sandbox VR In Times Square
761 7th Avenue & 777 7th Avenue
Building Size
10,600 SF
Asset Type
Retail
Closing
Jun 1, 2026
About this deal
AI
The transaction involves a retail asset located at 761 7th Avenue & 777 7th Avenue in the Times Square area. The total square footage of the property is 10,600, and Sandbox VR has signed a lease for a duration of 10 years. The asking rent for this property is approximately $750,000 annually.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $750,000 annually
- Lease Duration: 10 years
- Asset Size: 10,600 square feet
- Address: 761 7th Avenue & 777 7th Avenue
- Market: Times Square
- Landlord: Michael Shah - Delshah Capital
- Tenant: Sandbox VR
Michael Shah represents Delshah Capital in this lease agreement, while Sandbox VR occupies the leased space in the newly secured property within a notable retail market.
On the Map
Retail
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Players
Hollywood 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