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Corcoran Group Brokers Lease Gallery Chang's Retail Space In Upper West Side

Property Image
LEASED
$107
Evan Church
 Christopher (Chris) Cavorti
+ 2

New York

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Retail2,553 SF
Leased 01/05/2024
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Property Image
LEASED

Corcoran Group Brokers Lease Gallery Chang's Retail Space In Upper West Side

150 West 50th Street

See Similar Deals
Retail2,553 SF
Leased 01/05/2024
Evan Church
 Christopher (Chris) Cavorti
+ 2
Contact now

Summary

NEW YORK
Asset Type:Retail
Price Per Square Foot:$107
Total Square Footage:2,553 SF
Transaction Type:Lease

The property involved in the transaction is located at 150 West 55th Street in the Upper West Side. The retail space, spanning 2,553 square feet, was leased by Gallery Chang - Something Sweet from the landlord, 150 West 55th Street Apartment Corp, represented by Tim Kane. The deal was facilitated by brokers Christopher Cavorti, Donald Lai, Evan Church, Marvin Chu, and Jon Jafari of The Corcoran Group, with an asking rent of $107 per square foot for a 5-year term.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Address: 150 West 55th Street
  • Market: Upper West Side

The Corcoran Group's team, comprised of Christopher Cavorti, Donald Lai, Evan Church, Marvin Chu, and Jon Jafari, played a pivotal role in negotiating the 5-year retail lease between Gallery Chang - Something Sweet and 150 West 55th Street Apartment Corp. This transaction highlights the collaboration between the key individuals and companies involved in the lease agreement.

Players

 Christopher (Chris) Cavorti
7 deals$50.5M volume(914) 804-7091
BROKER

Evan Church
The Corcoran Group
3 deals$5.2M volume
BROKER

Marvin Chu
The Corcoran Group
3 deals$5.2M volume(718) 685-9430
BROKER

Donald Lai
The Corcoran Group
4 deals$4.2M volume(917) 947-9917
BROKER

Details

LEASED
IMAGE: Christopher Cavorti, Donald Lai, Evan Church, Marvin Chu & Jon Jafari DATE: 01/05/2024 ADDRESS: 150 West 55th Street MARKET: Upper West Side ASSET TYPE: Retail LANDLORD: 150 West 55th Street Apartment Corp - Tim Kane TENANT: Gallery Chang - Something Sweet BROKERS: Christopher Cavorti (@ChristopherCavorti), Donald Lai (@NYCDon), Evan Church (@EvanChurchHamptons), Marvin Chu (@MarvinzChu) & Jon Jafari (@JonJafariRealEstate) - The Corcoran Group (@TheCorcoranGroup) ASKING RENT: $107/ft ~ SF: 2,553 LEASE TYPE: Retail Lease LEASE TERM: 5 Years

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Deal Type
Effective Rent (Annual)

$313,159.94

Total Lease Value

$3,131,599.38

Net Landlord Cash Flow$313,159.94