7th Street Burger Leases Retail Space At 171 West 23rd Street In New York With KSR As Brokers
171 West 23rd Street
$171
$171/SF
Building Size
1,100 SF
Asset Type
Retail
Closing
Mar 1, 2023
About this deal
AI
Raquel Concepcion, the landlord of 171 West 23rd Street in New York, has entered into a lease agreement with 7th Street Burger, a retail tenant. The deal was facilitated by brokers Daniel Kestenbaum and David Green of KSR. The lease involves a retail space measuring 1,100 square feet, with an asking rent of $171 per square foot.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Lease
- Address: 171 West 23rd Street, New York
- Market: New York
- Landlord: Raquel Concepcion
- Tenant: 7th Street Burger
- Brokers: Daniel Kestenbaum & David Green - KSR
- Asking Rent: $171/ft
- Square Footage: 1,100
Daniel Kestenbaum and David Green of KSR played a crucial role in representing both the landlord, Raquel Concepcion, and the tenant, 7th Street Burger, in the lease agreement for the retail space at 171 West 23rd Street. Their expertise and negotiation skills ensured the successful conclusion of the deal.
Players
Market 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
92766.08%
Cash-on-Cash
-26512.83%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93