Updated Oct 29, 2024
Kim Kardashian's Skims Leases Hollywood Office Building From J.H. Snyder
1601 Vine St Los Angeles, Ca 90028, Usa
$46
$46/SF
Building Size
116,000 SF
Asset Type
Office
Closing
Jul 17, 2023
About this deal
AI
Kim Kardashian's Skims shapewear company has leased an office building located at 1601 Vine Street in Hollywood. The landlord, J.H. Snyder, was facing a potential loan default before this lease agreement. The office asset spans 116,000 square feet and the asking rent is $46.17 per square foot.
Summary of transaction details
- Property Type: Office
- Transaction Amount: Not specified
- Address: 1601 Vine Street
- Market: Hollywood
The lease between Skims and J.H. Snyder was crucial for the property owner, as it prevented him from defaulting on the loan. Skims' decision to lease this office space aligns with their expansion plans, including the establishment of brick-and-mortar stores in Los Angeles and New York. This move indicates the company's growth and commitment to physical retail presence.
On the Map
$46
$46/SF
Office
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
344847.83%
Cash-on-Cash
-98558.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93