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21 W 34th St, New York, NY,...

Espirit Leases Retail Space At 21 W 34th St, New York From SL Green Realty Corp
LEASEDRetail

Espirit Leases Retail Space At 21 W 34th St, New York From SL Green Realty Corp

21 W 34th St, New York, NY, 10001

Building Size

16,000 SF

Asset Type

Retail

Closing

May 25, 2016

AI

The retail property located at 21 W 34th St, New York, NY, 10001 in New York, with a square footage of 16,000, was leased on 05/25/2016. The tenant of this space is Espirit, represented by Michael Hirschfeld of JLL. The landlord, SL Green Realty Corp., was represented by Richard Hodos, also of JLL.

Summary of transation details:

  • Property Type: Retail
  • Transaction Amount: Not provided
  • Tenant: Espirit
  • Square Feet: 16,000
  • Tenant's Rep: Michael Hirschfeld(JLL)
  • Landlord: SL Green Realty Corp.
  • Landlord's Rep: Richard Hodos(JLL)

This deal brings together the well-known tenant, Espirit, and the landlord, SL Green Realty Corp., in a lease agreement facilitated by the tenant's representative, Michael Hirschfeld, of JLL, and the landlord's representative, Richard Hodos, also with JLL. The transaction showcases the collaborative efforts of these key individuals and firms in the real estate market of New York.

Players

Michael Hirschfeld

JLL

Broker

5 deals

Broker
SL Green
SL GreenLandlord

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93