Stout NYC Leases 16,000 Sq. Ft. Retail Space At 213-223 West 35th Street
213 West 35th Street & 223 West 35th Street
$125
$125/SF
Building Size
16,000 SF
Asset Type
Retail
Closing
Apr 30, 2025
About this deal
AI
The retail space located at 213-223 West 35th Street spans 16,000 square feet within the Midtown South market. It has been leased for a duration of over 10 years, with an asking rent of $125 per square foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $125/ft
- Lease Term: 10-plus-year lease
- Landlord: Adam Justin - Justin Management
- Tenant: Martin Whelan - Stout NYC
- Landlord's Representative: Matthew DeRose & William Janetschek - Nomad Group
- Tenant's Representative: Michael Kaufman - Kaufman Organization
Stout NYC is moving its flagship pub from 133 West 33rd Street to this new location, marking a significant relocation for the business. The representatives involved in the transaction include Matthew DeRose and William Janetschek, who represented the landlord, while Michael Kaufman represented the tenant.
On the Map
$125
$125/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
126904.00%
Cash-on-Cash
-36269.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93