Cobblestone Labs AI Leases Retail Space At 118 West 27th Street For $75/ft In Chelsea
118 West 27th Street
Building Size
4,000 SF
Asset Type
Retail
Closing
Jul 10, 2026
About this deal
AI
The transaction involves a retail asset located at 118 West 27th Street, Chelsea, Manhattan, with a leasing rate of $75 per square foot for a space encompassing 4,000 square feet. The lease type is classified as a Single Net Lease.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $300,000
- Landlord: Matt Rettner
- Tenant: Cobblestone Labs AI
- Landlord's Representative: Noam Aziz - Meridian Capital Group
- Tenant's Representatives: Yorlyn Lopez & Michael Crowne - The Corcoran Group
- Lease Date: 07/10/2026
Noam Aziz represented the landlord in this transaction, while the tenant was represented by the team of Yorlyn Lopez and Michael Crowne. According to a note from the tenant's representative, there are intentions for innovation and development in the new space that Cobblestone Labs AI will occupy.
On the Map
Retail
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
211506.67%
Cash-on-Cash
-60449.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93