LEASEDRetail
Aircela Signs Lease For Retail Space In Garment District, New York At 247 West 38th Street - Richard Bailey Represents Tenant
247 West 38th Street, Manhattan, New York, NY, USA
Building Size
4,250 SF
Asset Type
Retail
Closing
Mar 16, 2021
About this deal
AI
The retail property located at 247 West 38th Street in the Garment District has recently been leased. The transaction took place on 03/17/2021.
Summary of transaction details:
- Property Type: Retail
- Address: 247 West 38th Street
- Market: Garment District
- Tenant: Aircela
- Landlord: Joseph Weiss
- Broker: Richard Bailey - Kassin Sabbagh Realty
- Asking Rent: $40/ft.
- SF: 4,250
The tenant for this leased retail space is Aircela. The landlord of the property is Joseph Weiss. Richard Bailey from Kassin Sabbagh Realty represented the deal as the broker.
Players
Kassin Sabbagh RealtyBrokerage
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