Alex Adjmi's Retail Space At 217 West 34th Street Leased To Chick-fil-A At $325/ft
217 West 34th Street, New York, NY, USA
Building Size
5,400 SF
Asset Type
Retail
Closing
Aug 31, 2021
AI
The retail asset located at 217 West 34th Street in the Penn Station market encompasses a total square footage of 5,400. The asset was leased with an asking rent of $325 per foot.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $325/ft.
- Address: 217 West 34th Street
- Market: Penn Station
- Landlord: Alex Adjmi
- Tenant: Chick Fil A
- Tenant's Representative: Jeremy Ezra & Richard Gelber, Newmark
- Landlord's Representatives: Brett Weinblatt & Ralph Hanan, Compass Commercial
This transaction involved key individuals, including landlord Alex Adjmi and tenant Chick Fil A, who were represented by Jeremy Ezra and Richard Gelber from Newmark. Brett Weinblatt and Ralph Hanan from Compass Commercial represented the landlord in this deal.
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