Wonder Signs 12-Year Lease For Retail Space At 2 Stuyvesant Street, Manhattan
2 Stuyvesant Street
$180
$180/SF
Building Size
6,800 SF
Asset Type
Retail
Closing
Nov 10, 2023
AI
The retail property located at 2 Stuyvesant Street in Manhattan has been leased by the tenant Wonder. The property, owned by Cooper Union, spans 6,800 square feet and has been leased for a term of 12 years. The asking rent for the property was $180 per square foot.
Summary of transation details
- Property Type: Retail
- Transaction Amount: Lease
- Address: 2 Stuyvesant Street, Manhattan
- Market: Manhattan
- Landlord: Cooper Union
- Tenant: Wonder
- Landlord's Rep: Paul Berkman & Don Cafero - JLL
- Tenant's Rep: Kelly Gedinsky & Marisa Simkin - Retail By Mona
- Asking Rent: $180/ft
- Square Footage: 6,800
- Lease Term: 12 years
The lease transaction was facilitated by Paul Berkman and Don Cafero from JLL, representing the landlord, Cooper Union. Kelly Gedinsky and Marisa Simkin from Retail By Mona acted as the tenant's representatives, negotiating the terms on behalf of Wonder.
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
88127.78%
Cash-on-Cash
-25187.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93