Corcoran Group Brokers Lease Gallery Chang's Retail Space In Upper West Side
150 West 50th Street
$107
$107/SF
Building Size
2,553 SF
Asset Type
Retail
Closing
Jan 5, 2024
AI
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
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
148252.34%
Cash-on-Cash
-42370.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93