Gotham Leases Retail Space At 150 10th Avenue In West Chelsea For $100/ft
150 10th Avenue
$100
$100/SF
Building Size
8,007 SF
Asset Type
Retail
Closing
Jul 19, 2024
AI
The property asset involved in this transaction is located at 150 10th Avenue in the West Chelsea market. It is categorized as retail space with a total square footage of 8,007. The asking rent for the property is $100 per square foot under a Modified Gross Lease.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $100/ft
- Address: 150 10th Avenue
- Market: West Chelsea
- Landlord: The Benchmark Company
- Tenant: Gotham
- Landlord's Rep: Andrew Taub, Andrew Stern & Ross Berkowitz - Newmark
- Tenant's Rep: Gregory Tannor & Jessica Gerstein - Lee & Associates
Key individuals involved in this transaction include Andrew Taub, Andrew Stern, and Ross Berkowitz representing the landlord through Newmark, while Gregory Tannor and Jessica Gerstein represented the tenant, Gotham, through Lee & Associates. This partnership illustrates the collaborative effort between brokers in finalizing the lease agreement.
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
158630.00%
Cash-on-Cash
-45336.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93