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102 Franklin Street

Jonathan Travis & Andrew Stern Lease Retail Space In Tribeca, Manhattan For Galerie Laura Gonzalez
LEASEDRetail

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

Andrew Stern

Newmark

Broker

$5.4M

vol

76 deals

Broker

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