Caffe Italia Leases Retail Space At 445 Fifth Avenue In New York With Brokers Garrett Kelly - Meridian Capital Group And Ben Davis - Ripco
445 Fifth Avenue
$201
$201/SF
Building Size
1,100 SF
Asset Type
Retail
Closing
Jan 30, 2023
AI
A 10-year lease has been signed for a retail space located at 445 Fifth Avenue in New York. The property, measuring 1,100 square feet, will be occupied by Caffe Italia. The lease was negotiated by Garrett Kelly from Meridian Capital Group and Ben Davis from Ripco. The asking rent for the space was $201 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not applicable (lease)
- Address: 445 Fifth Avenue, New York
- Market: New York
- Tenant: Caffe Italia
- Brokers: Garrett Kelly - Meridian Capital Group & Ben Davis - Ripco
- Asking Rent: $201/ft
- Square Footage: 1,100
- Lease Term: 10-year term
Garrett Kelly from Meridian Capital Group and Ben Davis from Ripco represented their respective clients in the lease deal. Caffe Italia will now occupy the retail space located at 445 Fifth Avenue in New York.
Players
Tay 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
78920.40%
Cash-on-Cash
-22555.69%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93