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:
- Property Type: Retail
- Transaction Amount: $150/ft
- Address: 159 West 23rd Street
- Market: Chelsea, Manhattan
- Asset Type: Retail
- Landlord: JVL Property Group
- Tenant: Inked
- Lease Term: Long Term
- Lease Type: Retail Lease
- Brokers: Manu Wendum, Marisa Simkin - Retail By Mona & Lee Block - Winick Realty Group
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
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