Ginger Sapori E Salute Signs 20-Year Lease At 123 West 49th Street In Midtown Manhattan
123 West 49th Street
$150
$150/SF
Building Size
7,000 SF
Asset Type
Retail
Closing
Sep 25, 2025
About this deal
AI
The property asset involved in this transaction is a retail space located at 123 West 49th Street, situated in the Midtown Manhattan market. The lease involves an area of 7,000 square feet with asking rents of $150 per square foot, and the lease term is set for 20 years.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $150/ft
- Lease Term: 20 years
- Landlord: John Kessler - Mitsui Fudosan America
- Tenant: Ginger Sapori e Salute
- Landlord's Representative: Kenneth Hochhauser & Jeff Winick - RTL Real Estate
- Tenant's Representative: Allan Gallaway - Sotheby's International Realty
- Square Footage: 7,000
The deal highlighted key representatives, including John Kessler acting on behalf of Mitsui Fudosan America. RTL Real Estate, represented by Kenneth Hochhauser and Jeff Winick, acted as the landlord's representatives while Allan Gallaway represented Ginger Sapori e Salute through Sotheby's International Realty.
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
105753.33%
Cash-on-Cash
-30224.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93