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Chelsea

Jay Suites Leases Retail Space At 159 West 25th Street Chelsea For $30 Per Sq Ft
SOLD

Jay Suites Leases Retail Space At 159 West 25th Street Chelsea For $30 Per Sq Ft

Chelsea

Building Size

Asset Type

Closing

Nov 11, 2022

AI

The property asset involved in this transaction is a retail space located at 159 West 25th Street in Chelsea. The asking rent for this space is $30 per square foot, with a total square footage of 60,000. The landlord is the Weinmann Family, while the tenant is Jay Suites, represented by Juda Srour.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $30/ft.
  • Address: 159 West 25th Street
  • Market: Chelsea
  • Landlord: Weinmann Family
  • Tenant: Jay Suites
  • Representative: Juda Srour

This deal highlights the involvement of key individuals such as the landlord, the Weinmann Family, and the tenant's representative, Juda Srour, who played a crucial role in facilitating the transaction for Jay Suites.

Players

Weinmann Family

Landlord

2 deals

Landlord

Juda Srour

Jay Suites

Tenant

$5.4M

vol

4 deals

Tenant

London CRE Market Snapshot

Boundary boundary · CRE · Sale 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