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25 West 23rd Street

A Retail Space Leased To TENJOU GROUP At 25 West 23rd Street For $89/ft
LEASEDRetail

A Retail Space Leased To TENJOU GROUP At 25 West 23rd Street For $89/ft

25 West 23rd Street

$89

$89/SF

Building Size

4,700 SF

Asset Type

Retail

Closing

Sep 25, 2024

AI

The property asset involved in this transaction is a retail space located at 25 West 23rd Street in the Flatiron market. The leased area covers 4,700 square feet, with an asking rent of $89 per square foot. The lease type is a Single Net Lease.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $89/ft
  • Lease Type: Single Net Lease
  • Tenant: TENJOU GROUP
  • Landlord's Representative: Steven Politis
  • Tenant's Representative: Uemgee Hwang - Lee & Associates

This transaction includes notable individuals representing both the landlord and the tenant. Steven Politis represents the landlord, while Uemgee Hwang, affiliated with Lee & Associates, represents the tenant, TENJOU GROUP.

Players

Brad Schwarz

Lee & Associates

Broker

$18.2M

vol

8 deals

Broker
Lee & Associates
Lee & AssociatesBrokerage

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

178235.96%

Cash-on-Cash

-50940.38%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93