Kumon Math And Reading Leases 1600 Square Feet At 385 South End Ave New York
385 South End Ave, New York, NY, 10...
Building Size
1,600 SF
Asset Type
School
Closing
Nov 29, 2023
About this deal
AI
The lease transaction involved a space located at 385 South End Ave, New York, NY, encompassing 1,600 square feet. The property is situated in the New York market, and Kumon Math and Reading has secured the ground floor space through this lease arrangement.
Summary of transaction details:
- Property Type: Lease
- Transaction Amount: Not disclosed
- Address: 385 South End Ave, New York, NY
- Tenant: Kumon Math and Reading
- Landlord: LeFrak Organization
- Square Feet: 1,600
- Tenant's Representatives: Matthew Gorman (CBRE), Christopher Bruggers (New Street Realty Advisors)
- Landlord's Representative: RKF
New Street Realty Advisors facilitated the lease agreement between Kumon Math and Reading and the LeFrak Organization. Kumon plans to open its new center in February 2019, following the arrangement made by the representatives Matthew Gorman and Christopher Bruggers.
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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