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140 Franklin Street, New Yo...

Institute For Studies On Latin American Art (ISLAA) Leases Retail Space At 140 Franklin Street In Tribeca
LEASEDRetail

Institute For Studies On Latin American Art (ISLAA) Leases Retail Space At 140 Franklin Street In Tribeca

140 Franklin Street, New York City, New York 10013, United States

$58

$58/SF

Building Size

8,650 SF

Asset Type

Retail

Closing

Nov 21, 2022

AI

The retail space at 140 Franklin Street in Tribeca has been leased to the Institute for Studies on Latin American Art (ISLAA). The property, spanning 8,650 square feet, was recently leased on November 21, 2022. The lease was facilitated by the landlord's representative, Lily Realty - Tate Jackson, and the tenant's representative, Allie Portera & Brad Cohen - CBRE. The asking rent for the space was $58 per square foot.

Summary of transaction details

  • Property Type: Retail
  • Transaction Date: 11/21/2022
  • Address: 140 Franklin Street, Tribeca
  • Landlord: Lily Realty - Tate Jackson
  • Tenant: Institute for Studies on Latin American Art (ISLAA)
  • Landlord's Representative: Christina Combias & Sam Akleh - Voro
  • Tenant's Representative: Allie Portera & Brad Cohen - CBRE
  • Asking Rent: $58/ft.
  • Square Footage: 8,650

Notable individuals involved in the lease deal include Christina Combias & Sam Akleh representing the landlord, Voro, and Allie Portera & Brad Cohen representing the tenant, CBRE.

Players

Bradley Cohen

CBRE

Broker

$134.5M

vol

11 deals

Broker

Tate Jackson

Lily Realty

Landlord

2 deals

Landlord
IA
Institute for Studies on Latin American Art (ISLAA)Tenant

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

273500.00%

Cash-on-Cash

-78167.14%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93