Chelsea Piers Fitness Leases 47000 Sq Ft Retail Space At 135 East 57th Street
135 East 57th Street
Building Size
47,000 SF
Asset Type
Retail
Closing
Nov 17, 2025
About this deal
AI
The property involved in this transaction is located at 135 East 57th Street in the Upper East Side, featuring a retail asset with a total square footage of 47,000. The property is currently owned by TF Cornerstone and is undergoing a transformation into more than 350 apartments.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not disclosed
- Landlord: Thomas Elghanayan - TF Cornerstone
- Tenant: David Tewksbury - Chelsea Piers Fitness
- Date of Lease: 11/17/2025
David Tewksbury, representing Chelsea Piers Fitness, has signed a lease for the ground-floor space, securing a significant footprint for the fitness center within the developing location under TF Cornerstone's management.
On the Map
Retail
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93