NYC Elite Gymnastics Signs 20-Year Lease Renewal At 40 Worth Street In TriBeCa
40 Worth Street
Building Size
20,908 SF
Asset Type
Commercial
Closing
Jun 18, 2025
AI
The asset involved in this transaction is a commercial property located at 40 Worth Street in TriBeCa, Manhattan. This facility spans a total area of 20,908 square feet. The landlord of the property is 40 Worth Street Associates, LLC, and the tenant, NYC Elite Gymnastics, has been operating at this location since 2015.
Summary of transaction details:
- Property Type: Commercial
- Transaction Amount: Not specified
- Address: 40 Worth Street
- Market: TriBeCa, Manhattan
- Landlord: 40 Worth Street Associates, LLC
- Tenant: Tina Ferriola - NYC Elite Gymnastics
- Broker: Roy Lapidus - GFP Real Estate
- Lease Duration: 20 years
Tina Ferriola represents NYC Elite Gymnastics in this lease renewal transaction, ensuring the continuity of its operations in the facility. Roy Lapidus from GFP Real Estate acted as the broker for this deal, facilitating the lease renewal process for both parties involved.
Players
New York Commercial Market Snapshot
Boundary boundary · Commercial · 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