D’strict Leases 51,979 Square Feet At Chelsea Piers Represented By CBRE Brokers
12th Ave
Building Size
51,979 SF
Asset Type
Commercial
Closing
Sep 24, 2024
AI
The transaction involves a commercial asset with a total square footage of 51,979 located within the Chelsea Piers market. The space will be utilized by D’strict for the Arte Museum, which will feature immersive media art focused on the theme of "eternal nature."
Summary of transaction details:
- Property Type: Commercial
- Transaction Amount: Not specified
- Landlord: Edward Pitoniak - Vici Properties
- Tenant: Sean Lee - D’strict
- Brokers: Anthony Dattoma, Anthony Jasenski, Neil King & Paul Amrich - CBRE
This deal involves key individuals such as Edward Pitoniak representing Vici Properties and Sean Lee representing D’strict. The brokerage team from CBRE, including Anthony Dattoma, Anthony Jasenski, Neil King, and Paul Amrich, facilitated the transaction.
Players
Market Commercial Market Snapshot
Boundary boundary · Commercial · Lease transactions
Loading comparables…
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