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
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