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19 West 44th Street

Taichi Ishizuki's Afuri Leases 1,500 Square Feet In Midtown Manhattan From Savanna
LEASEDRetail

Taichi Ishizuki's Afuri Leases 1,500 Square Feet In Midtown Manhattan From Savanna

19 West 44th Street

$150

$150/SF

Building Size

1,500 SF

Asset Type

Retail

Closing

Apr 2, 2025

AI

The asset involved in this transaction is a retail property located at 19 West 44th Street in Midtown Manhattan. The property has a square footage of 1,500 and the asking rent is set at $150 per square foot. This location is noteworthy as it is being occupied by Afuri, a Japanese ramen chain, which is replacing Kellari Taverna.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $150/ft
  • Property Address: 19 West 44th Street
  • Market: Midtown Manhattan
  • Square Footage: 1,500
  • Landlord: Savanna
  • Tenant: Taichi Ishizuki - Afuri
  • Landlord's Representative: Patrick O’Rourke, Sean Moran & Steven Soutendijk - Cushman & Wakefield
  • Tenant's Representative: Elisa Tsai - Cresa

This transaction highlights the involvement of key representatives. The landlord, Savanna, is represented by Patrick O’Rourke, Sean Moran, and Steven Soutendijk from Cushman & Wakefield. On the other side, the tenant, Taichi Ishizuki of Afuri, is represented by Elisa Tsai from Cresa.

Players

Steven Soutendijk

Cushman & Wakefield

Broker

10 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