Maison Welles Leases Retail Space At 18 East 13th Street From Penn South Capital For 10 Years
18 East 13th Street
$150
$150/SF
Building Size
2,200 SF
Asset Type
Retail
Closing
Jan 1, 2025
About this deal
AI
The retail asset located at 18 East 13th Street in the Greenwich Village market features a total square footage of 2,200. The lease for this property was finalized at an asking rent of $150 per square foot. The lease is structured as a Modified Gross Lease and spans a term of 10 years.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $150/ft
- Lease Term: 10 years
- Lease Type: Modified Gross Lease
- Landlord: Penn South Capital
- Tenant: Maison Welles
- Brokers: Ravi Idnani, Andrew Stern & Julia Singer - Newmark
The individuals involved in this transaction include Ravi Idnani, Andrew Stern, and Julia Singer from Newmark, who represented both the landlord and the tenant during the leasing process.
On the Map
$150
$150/SF
Retail
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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