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
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