Jonathan Travis & Andrew Stern Lease Retail Space In Tribeca, Manhattan For Galerie Laura Gonzalez
102 Franklin Street
$120
$120/SF
Building Size
4,800 SF
Asset Type
Retail
Closing
Mar 1, 2024
AI
The retail space located at 102 Franklin Street in Tribeca, Manhattan, was leased in a deal involving landlord Kyle Wittels and tenant Galerie Laura Gonzalez. The property spans 4,800 square feet with a lease type of Modified Gross Lease, and features an asking rent of $120 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not provided
- Address: 102 Franklin Street
- Market: Tribeca, Manhattan
- Landlord: Kyle Wittels
- Tenant: Galerie Laura Gonzalez
- Landlord's Rep: Andrew Stern - Newmark
- Tenant's Rep: Jonathan Travis - Redwood Property Group
- Asking Rent: $120/ft
- Size: 4,800 sq ft
- Lease Type: Modified Gross Lease
Andrew Stern of Newmark represented the landlord, Kyle Wittels, in the transaction, while Jonathan Travis of Redwood Property Group acted as the tenant's representative, securing the lease for Galerie Laura Gonzalez.
Players
New York Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
132191.67%
Cash-on-Cash
-37780.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93