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130 Duane Street, Manhattan...

Sonder Leases Hotel Property At 130 Duane Street In TriBeCa
LEASEDHotel

Sonder Leases Hotel Property At 130 Duane Street In TriBeCa

130 Duane Street, Manhattan, New York, NY, USA

Building Size

20,000 SF

Asset Type

Hotel

Closing

May 17, 2021

AI

The property involved in this transaction is a hotel located at 130 Duane Street in TriBeCa. The lease was signed on 05/18/2021. The tenant of the property is Sonder, represented by Francis Davidson. The landlord is Premier Equities. The brokers involved in the deal are Robert Chattah and Aziz Kabbaj from Reshape Advisory. The asking rent for the property is $106 per square foot, with a total square footage of 20,000.

Summary of transaction details

  • Property Type: Hotel
  • Transaction Amount: Not applicable
  • Date: 05/18/2021
  • Address: 130 Duane Street
  • Market: TriBeCa
  • Tenant: Sonder (Francis Davidson)
  • Landlord: Premier Equities
  • Brokers: Robert Chattah & Aziz Kabbaj (Reshape Advisory)
  • Asking Rent: $106 per square foot
  • Total Square Footage: 20,000

The deal was facilitated by Robert Chattah and Aziz Kabbaj from Reshape Advisory. The transaction showcases the collaboration between Sonder, represented by Francis Davidson, and Premier Equities as the landlord. The property, located in the vibrant market of TriBeCa, attracted a rent of $106 per square foot with a total area of 20,000 square feet.

Players

Robert Chattah

Broker

$227M

vol

10 deals

Broker
Premier Equities
Premier EquitiesLandlord

Francis Davidson

Sonder

Tenant

2 deals

Tenant

New York Hotel Market Snapshot

Boundary boundary · Hotel · 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