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159 West 23rd Street

JVL Property Group Leases Retail Space To Inked At 159 West 23rd Street Chelsea
LEASEDRetail

JVL Property Group Leases Retail Space To Inked At 159 West 23rd Street Chelsea

159 West 23rd Street

$150

$150/SF

Building Size

8,400 SF

Asset Type

Retail

Closing

Jan 23, 2025

AI

The property asset involved in this transaction is a retail space located at 159 West 23rd Street in Chelsea, Manhattan. The asking rent for the space is set at $150 per square foot, with a total square footage of 8,400. This long-term retail lease is under the management of JVL Property Group as the landlord.

Summary of transaction details:

The key individuals involved in this lease transaction include tenants Inked, represented by a team of brokers. Manu Wendum and Marisa Simkin from Retail By Mona, along with Lee Block from Winick Realty Group, facilitated the arrangement, ensuring the interests of their respective parties were well represented throughout the leasing process.

Players

Lee Block

RTL Real Estate

Broker

22 deals

Broker

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

105753.33%

Cash-on-Cash

-30224.63%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93