West 28th Street Real Estate Leases Retail Space At 111 West 28th Street To Sixth Ave Gift Shop
111 West 28th Street
$86
$86/SF
Building Size
2,500 SF
Asset Type
Retail
Closing
Jun 1, 2023
About this deal
AI
The property asset involved in this lease transaction is located at 111 West 28th Street in the Chelsea market. It is classified as a retail space, with a square footage of 2,500. The asking rent for this property is set at $86 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $86/ft
- Address: 111 West 28th Street
- Market: Chelsea
- Landlord: West 28th Street Real Estate - Sinclair Family
- Tenant: Sixth Ave Gift Shop
- Brokers: Tyler Zar, Adam Lavian & Tanner Zar - Titan Group New York
Titan Group New York acted as the representative for both the landlord and the tenant in this transaction. The brokers involved are Tyler Zar, Adam Lavian, and Tanner Zar. Titan Group New York specializes in both commercial and residential leasing. They encourage owners needing assistance with leasing vacant units to reach out for guidance.
Players
Market 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
184453.49%
Cash-on-Cash
-52717.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93