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100 Gansevoort St, New York...

Michael Greenberg Represents Tenant In Lease At 100 Gansevoort St New York With TF Cornerstone
LEASED

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

Michael Greenberg

Broker

$10.8M

vol

9 deals

Broker
TF Cornerstone
TF CornerstoneLender
TF Cornerstone
TF CornerstoneLandlord

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