facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Mixed Use

/

Lease

/

34 West 15th Street, New Yo...

James Beard Association Leases Mixed-Use Space In Chelsea's 34 West 15th Street With Landlord Blumenthal Family
LEASEDMixed-use

James Beard Association Leases Mixed-Use Space In Chelsea's 34 West 15th Street With Landlord Blumenthal Family

34 West 15th Street, New York, NY 10011

Building Size

5,000 SF

Asset Type

Mixed-use

Closing

Sep 23, 2018

AI

A mixed-use property located at 34 West 15th Street in Chelsea, New York, has recently been leased. The property, which spans 5,000 square feet, was leased by the James Beard Association. The landlord of the property is the Blumenthal Family. The leasing deal was facilitated by the landlord's representative, Jeff Nissani from JSN Properties, and the tenant's representatives, Matt Raphan and Brett Maslin from Adams & Company. The lease term is for 5 years and the asking rent was $44 per square foot.

Summary of transaction details

  • Property Type: Mixed-use
  • Tenant: James Beard Association
  • Landlord: Blumenthal Family
  • Landlord Rep: Jeff Nissani (JSN Properties)
  • Tenant Reps: Matt Raphan, Brett Maslin (Adams & Company)
  • Asking Rent: $44/ft.
  • SF: 5,000
  • Term: 5 Years

The leasing of the property at 34 West 15th Street in Chelsea was successfully negotiated by the landlord's representative, Jeff Nissani from JSN Properties, as well as the tenant's representatives, Matt Raphan and Brett Maslin from Adams & Company. The lease term is set for 5 years with an asking rent of $44 per square foot. This deal provides a significant opportunity for the James Beard Association to establish a presence in the vibrant Chelsea market.

Players

Matt Raphan

Broker

1 deal

Broker
Lang Realty
Lang RealtyBrokerage

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · 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