Adam Justin of Justin Management Leases Retail Space To Lu Med Spa At 127 West 26th Street
127 West 26th Street
$150
$150/SF
Building Size
2,500 SF
Asset Type
Retail
Closing
Aug 14, 2025
AI
The retail asset located at 127 West 26th Street in Chelsea, Manhattan consists of 2,500 square feet and is leased under a Modified Gross Lease. The asking rent for this property was set at $135 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $135 per foot
- Address: 127 West 26th Street
- Market: Chelsea, Manhattan
- Landlord: Adam Justin - Justin Management
- Tenant: Lu Med Spa
- Landlord's Representative: Ravi Idnani - Newmark
- Tenant's Representative: Sunanne Zhu - Alignment Realty
- Lease Type: Modified Gross Lease
Key individuals involved in this transaction include Adam Justin representing Justin Management as the landlord, while Lu Med Spa is the tenant in this deal. Ravi Idnani from Newmark represented the landlord, and Sunanne Zhu from Alignment Realty acted as the tenant's representative.
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