Michael Greenberg Represents Tenant In Lease At 100 Gansevoort St New York With TF Cornerstone
100 Gansevoort St, New York, NY, 100...
Building Size
15,784 SF
Asset Type
—
Closing
Nov 20, 2023
AI
Wix has leased 15,784 square feet of retail space on the ground floor of TF Cornerstone's property located at 100 Gansevoort St, New York, NY, in the New York market. The leased space is positioned directly across from the Whitney Museum of American Art and will serve to accommodate over 80 employees as well as an event space. The location is part of a renovated area featuring retail spaces along Washington and Gansevoort streets.
Summary of transation details:
- Property Type: Lease
- Transaction Amount: Not specified
- Address: 100 Gansevoort St, New York, NY
- Market: New York
- Tenant: Wix
- Landlord: TF Cornerstone
- Tenant's Representative: Michael Greenberg
- Landlord's Representative: Steve Gonzalez
- Square Feet: 15,784
Michael Berg of JLL represented Wix in this transaction, while Steve Gonzalez represented TF Cornerstone. This deal reflects Wix's long-standing presence in New York, highlighting their growth and the strategic choice of the Meatpacking District for their new retail space.
Players
New York CRE Market Snapshot
Boundary boundary · CRE · 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