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102 Franklin Street

Kyle Wittels Leases Office Space At 102 Franklin Street In Tribeca To Franklins For $80/ft
LEASEDOffice

Kyle Wittels Leases Office Space At 102 Franklin Street In Tribeca To Franklins For $80/ft

102 Franklin Street

$80

$80/SF

Building Size

2,600 SF

Asset Type

Office

Closing

Jan 1, 2026

AI

The asset involved in the transaction is an office space located at 102 Franklin Street in the Tribeca market. The lease type is a Modified Gross Lease with an asking rent of $80 per square foot. The total square footage of the property is 2,600 SF.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $208,000
  • Address: 102 Franklin Street
  • Market: Tribeca
  • Landlord: Kyle Wittels
  • Tenant: Franklins
  • Landlord's Rep: Andrew Stern - Newmark
  • Tenant's Rep: Noah Jay & Eric Best - Compass

Key individuals involved in this deal include the landlord, Kyle Wittels, and the tenant, Franklins. The transaction was facilitated by Andrew Stern representing the landlord from Newmark, while Noah Jay and Eric Best represented the tenant from Compass.

Players

Andrew Stern

Newmark

Broker

$5.4M

vol

76 deals

Broker

Kyle Wittels

Landlord

1 deal

Landlord
Franklin Street
Franklin StreetTenant

New York Office Market Snapshot

Boundary boundary · Office · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

198287.50%

Cash-on-Cash

-56671.18%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93